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Ask Ash Your Own Question

Ash
Ash, Solicitor
Category: Law
Satisfied Customers: 10915
Experience:  Solicitor with 5+ years experience
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Good morning, what are the rules in relation to a mortgage

Customer Question

Good morning,
what are the rules in relation to a mortgage provider to their customer , who is a pensioner and gets regular payment from the Bank.
He gets in a serious financial difficulty when self employed and no fault of his own.
1. car accident
2. unable to work
3.not get additional income
I was hoping Bank of Ireland my bank would be caring but I nearly lost my house and they took me to court to reposses my house and caused me torture and a period of total insanity.
Submitted: 1 year ago.
Category: Law
Expert:  Ash replied 1 year ago.
Alex Watts :

Hello my name is ***** ***** I will help you with this.

Alex Watts :

How many months were you in arrears by please?

JACUSTOMER-g3h9j6jh- :

Thanks , I have not got all the correct facts but briefly:

JACUSTOMER-g3h9j6jh- :

3months

JACUSTOMER-g3h9j6jh- :

as you know i was am a pensioner and regular income is due on 20th of month.

JACUSTOMER-g3h9j6jh- :

i signed my mortagage agreement on 11 of month and the Bank of Ireland counted me paying later then 11th as default. my bank HSBC would reject my mortgage and important direct debits even though i had money coming in

Alex Watts :

How much were you in arrears?

JACUSTOMER-g3h9j6jh- :

just over £3k

Alex Watts :

Ok, but you were late paying? What was your monthly payment?

JACUSTOMER-g3h9j6jh- :

i had a car crash and couldnot work

JACUSTOMER-g3h9j6jh- :

i asked for help from BOI so i could have this sum added to my mortgage

JACUSTOMER-g3h9j6jh- :

i have equity in my house

Alex Watts :

What was your monthly payment?

JACUSTOMER-g3h9j6jh- :

i had their agent come over to my house. I explained that please add to my outstanding mortgage, i had taken on a tenant i will be able to cover

Alex Watts :

What was your monthly payment?

JACUSTOMER-g3h9j6jh- :

11.06.12 £500.32

JACUSTOMER-g3h9j6jh- :

today i am paying £851

Alex Watts :

So you were 6 months in arrears at one stage?

JACUSTOMER-g3h9j6jh- :

no

JACUSTOMER-g3h9j6jh- :

i dont have figures at hand but my payment shot up from £500.32 to £851 in stages and has crippled me

JACUSTOMER-g3h9j6jh- :

i have slept without eating , begged ,borrowed and paid my mortgage payment

Alex Watts :

What you need to do is write to the Chief Executive of the BoE and make a formal complaint. Their address is:

Alex Watts :

Group Customer Complaints
Bank of Ireland Group
PO Box 27
One Temple Quay
Bristol
BS99 7BR

Alex Watts :

They will investigate the complaint and report back to you.

Alex Watts :

If you are not satisfied then you can complain to the Financial Ombudsman. They offer a free, independent service and can investigate your complaint for free. Their website is: www.financial-ombudsman.org.uk

Alex Watts :

They will make a ruling.

Alex Watts :

If you are still not happy then you can take the matter to Court, but there is a risk if you lose then you would be liable for more costs.

Alex Watts :

But this is the process you should follow.

Alex Watts :

Can I clarify anything for you about this today please?

JACUSTOMER-g3h9j6jh- :

sorry , my arrear was £ 1,885.64 . i can scan this document and send you

Alex Watts :

No, that is ok

Alex Watts :

Can you see my responses above?

JACUSTOMER-g3h9j6jh- :

yes i have seen it , its not a suitable response

Alex Watts :

What else would you like to know?

Alex Watts :

Please bear in mind this is a question and answer site, so I can not take someone to Court for you.

Alex Watts :

We provide advice on how to do this.

JACUSTOMER-g3h9j6jh- :

i don't expect you to do that , but answer my question ? what are

Alex Watts :

What are the?

JACUSTOMER-g3h9j6jh- :

what are my rights as a mortgagee

Alex Watts :

As soon as you are late then they can take action against you.

Alex Watts :

They must act in accordance with the Code of Conduct

Alex Watts :

The code can be found here:

Alex Watts :

http://www.cml.org.uk/cml/policy/issues/111

Alex Watts :

If they have breached the code then you can take it to the Ombudsman as discussed

JACUSTOMER-g3h9j6jh- :

what is code of conduct

Alex Watts :

The code states:

Alex Watts :

We will consider cases of financial difficulty and mortgage arrears sympathetically and positively. Our first step will be to try to contact you to discuss the matter.

Alex Watts :

If they did not do this then you can complain to the Ombudsman

Alex Watts :

The Ombudsman also has a section on arrears and what a bank should do

Alex Watts :

http://www.financial-ombudsman.org.uk/publications/technical_notes/mortgages-arrears-and-hardship.html

Alex Watts :

Lenders will normally be expected to:



  • handle matters sympathetically;

  • make reasonable efforts to reach agreement with the consumer about how the arrears should be paid;

  • make sure any proposed repayment plan is realistic;

  • liaise with any third party acting on the consumer's behalf - for example, a Citizens Advice Bureau;

  • provide the consumer with an explanation, if they do not accept the consumer's own repayment proposals; and

  • seek possession of the property only as a last resort.

Alex Watts :

If they did not then the Ombudsman can take action

Alex Watts :

The Ombudsman states:

Alex Watts :

We have upheld complaints where we found the lender had acted unfairly or unreasonably, for example by:



  • refusing to agree a payment arrangement without a suspended order for possession;

  • refusing to consider a repayment proposal that falls outside its "standard" requirements;

  • at a payment arrangement review, insisting on an increase in the rate of repayment of the arrears - even though the consumer's financial circumstances have not changed;

  • repeatedly applying unpaid payment charges where it is clear that a payment arrangement is needed; or

  • refusing to deal with a third party adviser.

Alex Watts :

Therefore if they have breached the Code the Ombudsman can take action

Alex Watts :

Does this answer your question today?

JACUSTOMER-g3h9j6jh- :

they seek possession of my property as the first instant

Alex Watts :

Yes, which is why the Ombudsman can take action

Alex Watts :

But you need to complain to the Bank first and then the Ombudsman

Alex Watts :

The Ombudsman wont take a complaint unless you have written to the Bank first, which is why I suggested it

JACUSTOMER-g3h9j6jh- :

the reason why i am talking to you is that i am a very hurt person and the two banks have really tried their best to get me on the streets of cold london. but have failed and i seek a way to make them aware that most people would be on the street but i have survived there constant pressure

Alex Watts :

Indeed and I am sorry for the stress you have suffered.

Alex Watts :

But you need to write to the Bank first and then the Ombudsman. Then they can take action

Alex Watts :

But the Ombudsman wont take action unless you have written to the Bank first.

Alex Watts :

Sadly that is the process the Ombudsman will expect you to follow

JACUSTOMER-g3h9j6jh- :

how do i go about writing to the bank?

JACUSTOMER-g3h9j6jh- :

i want to get this right and i donot want the Banks to be let off the hook

Alex Watts :

You need to write to:

Alex Watts :

Group Customer Complaints
Bank of Ireland Group
PO Box 27
One Temple Quay
Bristol
BS99 7BR

JACUSTOMER-g3h9j6jh- :

well i know who to write

JACUSTOMER-g3h9j6jh- :

what i need is what to write?

Alex Watts :

If you draft the document I can certainly look at it

Alex Watts :

But you need to set out what has happened and what is it they have done wrong

Alex Watts :

Simply that

JACUSTOMER-g3h9j6jh- :

i dont want to go in ranting and raving and they think i am stupid

Alex Watts :

Yes indeed.

JACUSTOMER-g3h9j6jh- :

maybe a short professional request for a summary of why my mortgage shot up and that caused me more stress

Alex Watts :

But keep it concise, to the point and take out all emotion

JACUSTOMER-g3h9j6jh- :

can you not knock out a two liner for me pleASE

Alex Watts :

Sadly I am not allowed to, it is against site rules to act for you.

Alex Watts :

By drafting a letter I am acting for you.

Alex Watts :

I am sorry

Alex Watts :

Can I clarify anything else for you about what you need to do or the process it follows please?

Alex Watts :

But draft the letter, I will review it for you,

Alex Watts :

If this answers your question could I invite you rate my answer before you leave today.


If the system won’t let you please click reply.



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