Mortgage debt and HSBC help needed

**PlanB** · 1st September 2013, 16:24:PM

Re: Mortgage debt and HSBC help needed

First of all try not to panic about losing your home. There are loads of things a lender has to do before they can even think about taking you to court

Is this a repayment mortgage or an interest only mortgage? If it's repayment you can ask the bank to change it to interest only which will reduce the monthly payment substantially.

How much are the arrears and how many months are you in arrears? Is this the first time you've been in arrears since you took out the mortgage?

If the bank are calling you to go through an income and expenditure form then it looks like they want to set up an Arrangement to Pay which will be a combination of the monthly contractual payment and *something* towards the arrears.

If an ATP can be achieved it will normally run for at least six months before any review gets carried out. At the end of the six months if you've kept to the arrangement you can ask them to capitalize the arrears. That means that the bank add the arrears to the overall loan so you won't have any "arrears" after that. If you've got no arrears you can't be repossessed

Lenders have to abide by Pre-Action Protocol which means there is a long list of 'do's and don'ts' which they have to consider first before they can take any legal action against you. Here is that list and read No 7 to put your mind at rest:

http://www.justice.gov.uk/courts/pro...t_mha#IDAPK0HC

**PlanB** · 1st September 2013, 16:28:PM

Re: Mortgage debt and HSBC help needed

Here's some more homework for you

This gives you a good background on how to handle potential repossession and more importantly how to avoid it in the first place:

http://england.shelter.org.uk/get_advice/repossession

**PlanB** · 1st September 2013, 16:37:PM

Re: Mortgage debt and HSBC help needed

Originally posted by newbe55 View Post

I have a short fall and cant make the mortgage short fall. spoken to hsbc they going to ring me Tuesday night to go through income and expenditure. I have never complained to hsbc about extra charges, ppi on a credit card, l think they a have treated me with contempt but don't want to rock the bout scared of losing my home.

Do you mean you can't pay the monthly payment not counting the arrears? Or do you mean you can't afford to pay anything towards the arrears on top of the monthly payment? I know some people paying as little as £10 per month towards arrears. Post up the maths so we can take a look at how best to approach this before Tuesday.

You won't be rocking the boat if you claim back what you are entitled to, and don't forget you can always make a complaint to the Financial Ombudsman Service if you need help. Has there been any PPI on this mortgage?

We have an excellent team here who can help you claim back any PPI due on your credit card which if successful could help raise you the money need to clear those arrears. Make a single stand-alone post about your credit card PPI on this thread and then I will send a PM to the experts who will ask you to start a separate thread in a better place on the forum

But it would be useful to get a broad picture of that PPI issue in case it assists with your mortgage problem. Do you have any idea how much you've paid in PPI over the years?

**newbe55** · 1st September 2013, 17:54:PM

Re: Mortgage debt and HSBC help needed

Thank you planb, but not sure about that as l did agree in court (18 months ago) to pay the extra and although l have only missed one part of the mortgage l think if they want to they could pull the plug. l have four mortgage payment that amounts to around 80,000 the problem l have is l am 58 so payments have been condent into 8 years if they would extend the mortgage l could manage. l was paying my council tax until l had to pay extra. Just a thought do you think l could claim hardship caused by HSBC actions ?

**newbe55** · 1st September 2013, 17:56:PM

Re: Mortgage debt and HSBC help needed

I was paying £736.00 l am now paying £968.00

**PlanB** · 1st September 2013, 22:39:PM

Re: Mortgage debt and HSBC help needed

Originally posted by newbe55 View Post

not sure about that as l did agree in court (18 months ago) to pay the extra and although l have only missed one part of the mortgage l think if they want to they could pull the plug. l have four mortgage payment that amounts to around 80,000 the problem l have is l am 58 so payments have been condent into 8 years if they would extend the mortgage l could manage. l was paying my council tax until l had to pay extra. Just a thought do you think l could claim hardship caused by HSBC actions ?

Does this mean you already have a suspended possession order? That's not a problem because you can apply to the court to get that order varied to suit your current financial situation

Are you sure you mean you have £80,000 arrears or is that a typo?

Don't worry about being 58 years old. We are of the same vintage

**PlanB** · 1st September 2013, 22:47:PM

Re: Mortgage debt and HSBC help needed

Originally posted by newbe55 View Post

I was paying £736.00 l am now paying £968.00

Does this mean you are paying a whopping £232 towards your arrears each month? A court must consider you paying off those arrears over the remaining term of the mortgage and not any quicker. There's a High Court legal precedent for this which a lower court cannot ignore:

http://www.bailii.org/cgi-bin/markup...method=boolean

**PlanB** · 1st September 2013, 22:55:PM

Re: Mortgage debt and HSBC help needed

Originally posted by newbe55 View Post

l did agree in court (18 months ago) to pay the extra and although l have only missed one part of the mortgage l think if they want to they could pull the plug. l have four mortgage payment that amounts to around 80,000 the problem l have is l am 58 so payments have been condent into 8 years if they would extend the mortgage l could manage. l was paying my council tax until l had to pay extra. Just a thought do you think l could claim hardship caused by HSBC actions ?

You've not told us your whole financial picture (or have you on another thread?) so it's hard to suggest options. Are you currently in work? Are to entitled to Working Tax Credit to top up your income if you are in work? Are you entitled to your State Pension yet (I am

) or anytime soon? Do you live alone so you could be entitled to the Single Person Discount on your Council Tax liability?

And so on :nod:

**newbe55** · 4th September 2013, 21:00:PM

Re: Mortgage debt and HSBC help needed

plantb l have sent a private message with more details, l would appreciate your thoughs

**PlanB** · 4th September 2013, 22:59:PM

Re: Mortgage debt and HSBC help needed

Originally posted by newbe55 View Post

plantb l have sent a private message with more details, l would appreciate your thoughs

I've got your PM thank you

I'm off to bed now after a crazy busy day but I'll be back online in the morning to (hopefully) say something useful :sleep:

I'm embarrassed to say that I haven't had time to read your PM properly this evening so just answer these two quick questions for me:

1. Do you already have a suspended repossession order on your home?

2. Did you speak to your lender on the phone last night as agreed?

Take care and we'll catch up tomorrow :hug:

**PlanB** · 5th September 2013, 01:04:AM

Re: Mortgage debt and HSBC help needed

Originally posted by PlanB View Post

I've got your PM thank you

I'm off to bed now after a crazy busy day but I'll be back online in the morning to (hopefully) say something useful :sleep:

I'm embarrassed to say that I haven't had time to read your PM properly this evening so just answer these two quick questions for me:

1. Do you already have a suspended repossession order on your home?

2. Did you speak to your lender on the phone last night as agreed?

Take care and we'll catch up tomorrow :hug:

Hey you don't have to answer those questions I posted because I have now read your PM and it makes my blood boil.

Yes you do have a suspended possession order on your house and I will tell you how to get that varied to payment which you can manage

Sod HSBC.

Yes you did speak to HSBC on Tuesday night and they were horrid to you but at least they've given you a deadline of 20th September to deal with all this before taking any further action. We will

**newbe55** · 5th September 2013, 20:09:PM

Re: Mortgage debt and HSBC help needed

:confused2: Hi Planb thank you for taking time out to help, do you think writing a letter to ceo and fsa will get a response, do l have any rights

**labman** · 5th September 2013, 21:42:PM

Re: Mortgage debt and HSBC help needed

It's difficult to comment when the details are not there - I understand you wanting to keep things private. You have loads of things you can use with the bank, but without knowing the situation it's hard to advise. You're in safe hands with Plan B - she's VERY good with housing issues, so try not to worry. :beagle:

**newbe55** · 6th September 2013, 22:07:PM

Re: Mortgage debt and HSBC help needed

Labman thank you for your support, l feel like l am being bullied into submission by hsbc. if you message planb she may explain better than l could.

Mortgage debt and HSBC help needed

Mortgage debt and HSBC help needed

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