Mortgage Arrears

[paddy20]

My mortgage company has informed me that we owe arrears dating back to last May- and they are sorry that it has took so long to inform us due to an office error -i am mad as hell- can they do this or is their a time limit ?

[Jeza]

You must have known if you were in arrears. Did you hope they wouldn't notice?

[nungate]

According to Mr Nungate (who used to work in Mortgage arrears). He says the onus on you to make sure your payments are up to date, however as it has taken so long for them to inform of this fact, if you were to approach them they may be prepared to come to some arrangement over the arrears.
Talk to them.

[andy-hughes]

They probably can, but on the basis that the error is theirs, they should be reasonable about giving you time to make up the shortfall.

Tell them you'll increase your payments by £10 per month until the shortfall clears. If they query that, say that you are demonstrating intention to pay, and re-advise them that the error is theirs.

Keep copies of everything, and send your letters to them Recorded Delivery and keep your receipts safe you need to fight further up the line.

[paddy20]

No didnt have a clue have had a couple of late payments in the past and late charges - but been up to date far as i know for over a year

[paddy20]

Thanks so much for answers - its not a huge amount £300 but could do without it just before Xmas in there letter of apology the next line was if i dont pay - £70 will be added every month on my mortgage !!

[nungate]

Mr Nungate says to tell them that you are not in a position to pay this sum at the moment, but you are prepared to pay the outstanding sum over say 9 months commencing in January. It appears from what you've said that they are going to increase your monthly payments by £70 until the arrears have been cleared, since the error is partly theirs they should be prepared top accommodate you without causing you undue financial pressure.

[Hopkirk]

I once missed a month when I changed bank, and didn't notice a month was missed at the changeover.

I didn't discover until the end of the year, when a statement was issued.

When I queried this with the then Halifax Building Society, they said it was policy to inform only when two months in arrears.

[Twenty20]

Surely you know how much you have to pay each month? That's basic information. And you must know if you haven't paid it.

Why on earth would the mortgage company apologise to you when it's you who's missed the payment?

Always blame someone else eh?

[factor-fiction]

Maybe there had been an error in their statements (eg omitted to show interest or carry forward arrears), Twenty20

[Thunderchild]

if it's their fault tell them to stuff the interest and you will pay as and when you can

[BlueToffee]

Sadly Thunderchild, it doesn't quite work like that, I wish it did.

I would suggest Paddy, you speak to the mortgage company or, if you get no joy from them, speak to the Citizens Advice Bureau.

Good luck.

[boxtops]

I don't understand how come you didn't know - don't they send you an annual statement? or do you mean May 2013 was missed? I must admit that's the one payment that I check every month has gone out of my bank.

[paddy20]

Once again thank-you for your answers-have been in touch with them (all guns blazin !) and it was to do with the interest rate as im on intrest only and do not pay by dd pay on the internet- so didnt realise anyway they were very nice and are letting me pay a bit off at a time . Phew !