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Hi,
I think I'm posting this in the correct place!
I have quite a complicated issue on my hands!
I had multiple properties with mortgage express which all went into lpa receivership after my bankruptcy back in 2012, I also had one buy to let mortgage with the west brom which I managed to keep because it was in negative equity.
In November last year I received a letter from the west brom stating that they were increasing my interest rate due to being a 'multiple property owner', I contacted them to explain I no longer was a multiple property owner due to my properties being placed into lpa as a result of bankruptcy, to which they responded that they needed this in writing from the official receiver.
Not an issue, or so I thought! I contacted the official receiver who stated that it was actually an issue from the trustees, I contacted them and was told that they 'were not interested in the portfolio as it was in negative equity, so I need to contact the LPA receiver'. After an initial phone call 4 weeks ago to the lpa reciever, I finally (after about 30 unreturned calls and the same amount of emails!) got a call from him today stating it isn't something they can deal with,and I'd need to go direct to UKAR (the new name for mortgage express i'm guessing). After dealing with Mortgage Express in the past, I can almost guarantee that I either wont get confirmation from them, or it will take months to get any sort of response, they're bloody useless!
My increased mortgage payment to he west brom is due at the end of the month (28th), and just isn't affordable (im already in arrears), they wont, however, budge until they have a letter confirming I am no longer responsible for the properties on my credit file. they have also stated that if payment isnt made, they'll appoint lpa recievers which is bloody ironic really.
Has anyone got any advice at all? Should I speak to citizens advice? Should I get legal representation?
The whole thing just seems so wrong to me, how can they just raise the interest rate?
sorry for long post and thanks in advance for any help!
I think I'm posting this in the correct place!
I have quite a complicated issue on my hands!
I had multiple properties with mortgage express which all went into lpa receivership after my bankruptcy back in 2012, I also had one buy to let mortgage with the west brom which I managed to keep because it was in negative equity.
In November last year I received a letter from the west brom stating that they were increasing my interest rate due to being a 'multiple property owner', I contacted them to explain I no longer was a multiple property owner due to my properties being placed into lpa as a result of bankruptcy, to which they responded that they needed this in writing from the official receiver.
Not an issue, or so I thought! I contacted the official receiver who stated that it was actually an issue from the trustees, I contacted them and was told that they 'were not interested in the portfolio as it was in negative equity, so I need to contact the LPA receiver'. After an initial phone call 4 weeks ago to the lpa reciever, I finally (after about 30 unreturned calls and the same amount of emails!) got a call from him today stating it isn't something they can deal with,and I'd need to go direct to UKAR (the new name for mortgage express i'm guessing). After dealing with Mortgage Express in the past, I can almost guarantee that I either wont get confirmation from them, or it will take months to get any sort of response, they're bloody useless!
My increased mortgage payment to he west brom is due at the end of the month (28th), and just isn't affordable (im already in arrears), they wont, however, budge until they have a letter confirming I am no longer responsible for the properties on my credit file. they have also stated that if payment isnt made, they'll appoint lpa recievers which is bloody ironic really.
Has anyone got any advice at all? Should I speak to citizens advice? Should I get legal representation?
The whole thing just seems so wrong to me, how can they just raise the interest rate?
sorry for long post and thanks in advance for any help!
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