Mortgage payment break

[auntsallyann]

I am desperate to sell my house, there is quite a bit of equity in it, but an ex is trying to register a restriction to claim beneficial interest so whilst this dispute is ongoing I cannot sell. If I informed my lender of the problem and that as soon as dispute is sold, would there be a chance that they would give me a payment break until prop sold. I really am struggling to pay it now.I have rang the lender (did not give my details) and asked a general question if they allowed payment holidays but they said no. I asked about swapping to interest only but they said in todays climate they are not offering I.O mtgs.

[Ethel]

Well, we are in no better position to answer than you. We don't know who your mortgage company is, how long you've had the mortgage, what your relationship with the company is like...

All you can do is ask.

[betterman]

im sure if you explain your situation more clearly to them, they can offer you some sort of help.

dont ask if you can swap to interest only, permanently, ask if you can just pay the interest payments for the next six months or so.

they wont let you swap to interest only unless there is an incentive for them to do so, for example, lend you extra money and charge you an arrangement fee etc.

there are many ways you can get help, the government have come down quite hard on lenders who refuse to help their clients, so call them and explain everything and ask them what they can do for you.

also give citizens advice a ring, these people are often overlooked, but are a great help.

good luck.

[auntsallyann]

thanks betterman, i will call them Monday, I was just a bit concerned as to what their reaction might be to the restriction dispute.