Please help - we are losing our home :-(

[mumisskint]

Re: Please help - we are losing our home :-(

Hi Springer,
I am an over qualified person which means a) I am struggling to get a job outside of what I normally do, but b) If I take a job doing what I normally do its a 60 hr week and I have no childcare as it is let alone anyone for childcare outside of childcare hours. I am trying to start up on my own again, but I am only just realising that being a single mum seriously reduces the functioning hours you have every day. The earliest I can have a nursery place in a 20 mile radius is Easter 2012. Yes, it is my intention to get back to it as soon as.

Judge,
Yes, I have all of the agreements. I can post all of them if that would be helpful. If a term of the agreement is to review - does that not cover interest too?

Thank you for all the help. I have sent the letter to the bank, will keep you posted on what happens next.

Mum...

[Judge mental]

Re: Please help - we are losing our home :-(

Mum:

Please post up all agreements, preferably in sequential order. I will look particularly to ensure the agreements allow them to take the actions they have, but also look at the timing and amount of interest rate hikes as this agreement will be subject to the 'extortionate credit bargain' and 'unfair relationships' under the Consumer Credit Act

Ive had no luck with finding their base rate history but I did read somewhere it was available by logging into to their website, do you have internet banking with them? if so, can you take a look around?

Stuart

[TUTTSI]

Re: Please help - we are losing our home :-(

Mum
When you post these agreements up blank out your personal details like Name, address and loan number.

Mum:

Please post up all agreements, preferably in sequential order. I will look particularly to ensure the agreements allow them to take the actions they have, but also look at the timing and amount of interest rate hikes as this agreement will be subject to the 'extortionate credit bargain' and 'unfair relationships' under the Consumer Credit Act

Ive had no luck with finding their base rate history but I did read somewhere it was available by logging into to their website, do you have internet banking with them? if so, can you take a look around?

Stuart

[SpringerSpaniel]

Re: Please help - we are losing our home :-(

If you are trying to get back to work soon, the best option is to try and get them (belatedly) to convert this loan to a residential mortgage as they said they would, and then to chase them for the difference in what you have paid because of thier overcharging / misselling / not keeping thier word.

If it is not realistic for you to work or to work enough to afford such a morrtgage, then the kind of mortgage rescue package Caspar mentioned might be a good way forward, together with releasing the equity in your house and reclaiming any overpayment or comepnsation you may be due. If you need to pursue this option, Shelter may be able to give you more info, there is also some on Direct Gov.

[SpringerSpaniel]

Re: Please help - we are losing our home :-(

Mum, how are you doing ? Are you getting on OK ?

[SpringerSpaniel]

Re: Please help - we are losing our home :-(

Mum, I think you could variously do i) a mis-selling complaint to the FOS about the loan; ii) a misrep claim in court about the description of 'buy to let'; iii) a breach of contract claim based on paying the incorrect interest as Stuart has pointed out.

For any of these, your starting point would be a letter of formal complaint.

However, you need to think what your overall plan and objectives are. If the best way forward is to get the bank - albeit very belatedly - to convert the loan to residential mortgage lending rates - you may wnat to avoid antagonising them further.

Alternatively, you may want to do a big mis-selling compplaint and then present this as the solution/resolution.

It depends how important it is to you to stay in this particular property, or whether, perhaps, you want to get as much money back as possible and move to a smaller property.

[mumisskint]

Re: Please help - we are losing our home :-(

Hello,
My scanner broke - its being fixed and should be back with me in the morning.
I have a PhD and on Friday I couldnt get a shelf stacking job in Asda - so Springer, I wont be going back to work until Easter when my little man can go into a proper nursery and I can go back to proper work - my head has crashed and burned a little bit.

I will put the agreements up tomorrow Stuart. Alot of them I didnt sign as I didnt agree and despite asking why the interest rate was constantly increasing by 100% they never had the common decency to respond or explain. They did in 2008 try to get me to sign that I agreed that the Loan and this new account was not covered by the CCA as part of an action plan. I was reading about unfair relationships over the weekend and I think it does apply - it certainly feels unfair to me!

Spinger, I dont know what the answer is. I cant get much smaller than where I am to be fair. It is bottom of the housing ladder where I am. Whilst I like the idea of the security in home ownership I can only have that if I can afford the mortgage. If I was in rented accomodation I could have some housing benefit, I cant get any help with the mortgage as the mortgage is not a mortgage.

I have put in one complaint about the SAR, a new SAR as I realised that I put the first one in in July 2010 and didnt recieve any paper work until January 2011 so they have breached the 40 day rule, but the info is only up to July 2010 so I need the last 9 months or so. I have also sent a letter asking them to hold on recovery as its in dispute and pending SAR info.

Thank you all once again.

Mum.

[SpringerSpaniel]

Re: Please help - we are losing our home :-(

Mum, if you could get some money bank from the bank as being unfair charges / interest etc, would it tide you over until easter to stay in this house ?

I am sorry if you feel pressed on a lot of fronts, but I think you need to formulate an overall plan and then work your finances around what you are trying to achieve.

Also, I wondered if there was any benevolent fund connected with your profession or industry, eg the Royal Medical Benevolent Fund, which could help you out as you are a professional woman bringing up a family alone having escaped domestic abuse, wshich has left oyu with these financial difficulties ? If you go the site Turn To Us http://www.turntous.org.uk, you can search for these by occupation, location and practically everything else. The Elizabeth Finn Trust might well help you, form what I knwo fo your circumstances.

[mumisskint]

Re: Please help - we are losing our home :-(

Lots of paperwork scans on their way
Mum

[mumisskint]

Re: Please help - we are losing our home :-(

More

[mumisskint]

Re: Please help - we are losing our home :-(

Some more

[mumisskint]

Re: Please help - we are losing our home :-(

Even more

[mumisskint]

Re: Please help - we are losing our home :-(

5 more

[mumisskint]

Re: Please help - we are losing our home :-(

Nearly there!

[mumisskint]

Re: Please help - we are losing our home :-(

Last ones. Thanks everyone for your help. It means a lot
Mum