Mortgage Arrears — Scope | Disability forum
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Mortgage Arrears

carolten
carolten Community member Posts: 9 Listener
I would like to ask for advice. I am currently trying to get a mortgage break with the current financial crisis my mortgage has gone up to over twice the amount I was paying. The mortgage company have asked for a income and expenditure to be completed. I asked what the criteria or policy they had for disabled people on benefit (ESA contributions) for the mortgage break. I was then asked what I used my care allowance (pip) as they did'nt understand what care I needed. I refused to to discuss my personal needs. They then said they have no policy or procedure for mortgage breaks. I wanted to find out if they use pip as part of the decision making process. This company is a sub prime lender and is well know for its unhelpful approach. Is anyone in this situation or has been in the past. 

Comments

  • Binky1234
    Binky1234 Community member Posts: 395 Pioneering
    Hopefully someone will be able to help, sorry the only advice I can give call CAB.
    Knowing When to walk away is Wisdom, being able is courage, walking away with your head held high is dignity.
  • rebel11
    rebel11 Community member Posts: 1,633 Pioneering
    edited February 2023
    carolten said:
    I would like to ask for advice. I am currently trying to get a mortgage break with the current financial crisis my mortgage has gone up to over twice the amount I was paying. The mortgage company have asked for a income and expenditure to be completed. I asked what the criteria or policy they had for disabled people on benefit (ESA contributions) for the mortgage break. I was then asked what I used my care allowance (pip) as they did'nt understand what care I needed. I refused to to discuss my personal needs. They then said they have no policy or procedure for mortgage breaks. I wanted to find out if they use pip as part of the decision making process. This company is a sub prime lender and is well know for its unhelpful approach. Is anyone in this situation or has been in the past. 
    To be perfectly honest it doesn't matter what they (lender) say, they are (should come under the Governance of the FCA). The following is I think (I might be wrong) the latest Guidance on payment holidays - we are still in Covid times -  - https://www.fca.org.uk/news/statements/update-mortgages-consumer-credit-banking-and-payments-during-coronavirus#:~:text=You can request a payment,a 1 month payment holiday.  

    Tell them if they don't or can't comply with your request, you will lodge a complaint with the Financial Ombudsman and FCA. Make the request in writing and make sure you get Proof of Postage.
  • Cartini
    Cartini Community member Posts: 1,108 Pioneering
    edited February 2023
    rebel11 said:
    carolten said:
    I would like to ask for advice. I am currently trying to get a mortgage break with the current financial crisis my mortgage has gone up to over twice the amount I was paying. The mortgage company have asked for a income and expenditure to be completed. I asked what the criteria or policy they had for disabled people on benefit (ESA contributions) for the mortgage break. I was then asked what I used my care allowance (pip) as they did'nt understand what care I needed. I refused to to discuss my personal needs. They then said they have no policy or procedure for mortgage breaks. I wanted to find out if they use pip as part of the decision making process. This company is a sub prime lender and is well know for its unhelpful approach. Is anyone in this situation or has been in the past. 
    To be perfectly honest it doesn't matter what they (lender) say, they are (should come under the Governance of the FCA). The following is I think (I might be wrong) the latest Guidance on payment holidays - we are still in Covid times -  - https://www.fca.org.uk/news/statements/update-mortgages-consumer-credit-banking-and-payments-during-coronavirus#:~:text=You can request a payment,a 1 month payment holiday.  

    Tell them if they don't or can't comply with your request, you will lodge a complaint with the Financial Ombudsman and FCA. Make the request in writing and make sure you get Proof of Postage.
    The pandemic is over and the window for applications for coronavirus-related payment holidays closed on 31 March 2021.
    A person can request a payment holiday from his or her lender, but they don’t have to agree to it.
    The lender may also ask about finances, quite rightly so, to ascertain why a holiday / break is required.
    In this instance the lender has said they don`t do payment holidays.; that`s the end of that discussion.
    Sorry, that last bit was a bit blunt, so I`ve put a strike through it.


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