Sapphire v Natwest - SORTED !

[Paule]

Re: Sapphire v Natwest

I think that the current climate of mortgages now, would make it even more out of your reach
With lenders upping their rates, not taking on adverse credit customers.

Have you already sent them anything with regards to the previous broker saying it woudl be a no go.

You only have to look in the press rss section for a handful of stories relating to why its even harder for you to obtain a mortgage to clear this debt

[Sapphire]

Re: Sapphire v Natwest

No I havn't written to them to say that at all to be honest I've been a bit scared to do it. I think I may have to write to them and tell them what the results been and enclose a copy of the letter we got from the broker.
Must admit I am scared that Nat West will call it all in and try to make us sell up. I suppose its in our favour that we have been paying regularly and if it went to court we could show that can't we.
Jeeeeez just when you think things can't get any worse.

[enaid]

Re: Sapphire v Natwest

Oh eck Sappy, mind you i think you were expecting this. I would write and send them a copy of the letter saying no chance of a remortgage. They must know how bad things are at the mo and how could they possibly expect you to get one, just my opinion. I would also say that as you have been paying this and not missed the agreed payments up to yet can you carry on for the near future at least.

[Sapphire]

Re: Sapphire v Natwest

It what I'm going to do di hun. I'm going to draft a letter later, perhaps someone will do the honours and correct it for me :kiss:

[Tools]

Re: Sapphire v Natwest

As discussed with you earlier,

You need to get together the evidence that you have already tried to remortgage without success, let them know you are still making more inquiries too.

They are obviously wanting to push for a sale order but we have to try and prevent that if we can.

Also let them know that as you have recently secured a large contract for the business you are expecting to be able to increase your monthly payments to them by a substantial amount/ month and therefore reduce the debt in a shorter period of time.

Basically show them that you are making every effort within your power to tackle the situation and that by applying for a sale order it would affect your business dramatically and also your ability to pay.

[Sapphire]

Re: Sapphire v Natwest

Thanks for that Bert, I will be drafting a letter v.v. for checking by our great friends the grammar police.

[Amethyst]

Re: Sapphire v Natwest

Have they mentioned end of April as a deadline before ?

[Sapphire]

Re: Sapphire v Natwest

Hi Ame the only mention of April thats been made is in the letter 2 January #170. Basically saying they are prepared to accept the payments until April whilst we make enquiries about remortgaging, and then Nat West will review the position at that stage.

[enaid]

Re: Sapphire v Natwest

Well true to their word then Sappy, that's what they have done given you till April.

[Sapphire]

Re: Sapphire v Natwest

Hows this for a letter:

Dear Cobblers,

Thank you for your letter dated 4 April 2008, the contents of which I note.

I have made attempts at remortgaging my house, and have approached 3 brokers all who were 'whole of market' but due to my less than favourable credit rating and the extremely bad housing market, I have unfortunately been unsuccessful.
I enclose a copy of a letter received from one of the brokers stating the I was not able to secure a remortgage.

I have recently been able to secure a rather large contract for my business, which when the work filters down, and by the time the payments are made in around 3-5 months time, will enable me to be able to increase my payments substantially, and therefore will reduce the amount of time it will take to pay this debt off.

I was going to mention that if they go for a sale order, then they would not only force us out of our home but they would basically shut down the business, which in turn would make us homeless and jobless, but to be honest I'm not sure about mentioning the sale order just incase it nudges them towards doing it.



I

[Tools]

Re: Sapphire v Natwest

Dear Cobblers,

I am in receipt of your letter dated 4 April 2008, the contents of which I note.

I have made several enquires towards the remortgage of my property which serves as both the family residence and offices for the business. Due to both my current borrowing status and the recent unease in the financial markets, I have so far been unsuccessful. I will continue to make further enquiries ans will inform you of any developments.

I enclose a copy of a letter received from one of the brokers as an indication of steps I have, and still am, taking.

In the interim, I have recently secured a significant contract for my business and only source of income. This should in the near future provide a substantially increased funds enabling me to greatly increase the amount of my payments to you and in turn reduce the amount of time it will take to settle the debt.

I ask for your patience and cooperation when considering any future decisions which will benefit both parties

Yours

[enaid]

Re: Sapphire v Natwest

Much better

[Sapphire]

Re: Sapphire v Natwest

Thanks for that Bert, blimey I really wish I could write letters as good as that :kiss:

[Amethyst]

Re: Sapphire v Natwest

Dear Cobblers,

I am in receipt of your letter dated 4 April 2008, the contents of which I note.

I have made several enquires towards the remortgage of my property, which serves as both the family residence and offices for my business. This business provides my sole source of income. Due to both my current financial status and the recent unease in the financial markets, I have thus far been unsuccessful. I will continue to make further enquiries and will inform you of any developments.

I enclose a copy of a letter received from one of the brokers as an indication of steps I have, and still am taking.

In the interim, I have recently secured a significant contract for my business. This should, in the near future, provide increased income enabling me to increase the amount of my monthly installment payments to you, in turn reducing the amount of time it will take to settle this debt.

I ask for your patience and cooperation when considering any future decisions which will affect both parties

Yours

just done spellings and grammar a little. (tho is it effect or affect ? def not benefit)

[Xena]

Re: Sapphire v Natwest

It is affect


"affect is always a verb. It means to bring on or cause a change"