Threaten bullying banks with an Ombudsman complaint
Sometimes a mortgage lender will try to bully you into doing what they want - challenge them with the Ombudesman
Dawn got into mortgage arrears when she got made redundant.
Her mortgage was £550 a month but she was only getting £65 a week Job Seekers Allowance.
Her situation went on for 6 months although she kept going to interviews but was unsuccessful. She had no financial offer that she could make to the bank so eventually they went to court and got a possession order.
The judge generously allowed 2 months on the order in the hope that she would find work but when she didn’t, the bank went back to court and got a warrant of eviction against her home, to change the locks.
The warrant was due to be executed in 10 days’ time but her persistence with interviews paid off. She got a permanent full time post with a take home pay of £1,400 so she could cover the mortgage payments and pay a regular sum off of the arrears. Her new job was due to start 1 week before the eviction.
She called the bank, told them the good news and made an offer of the monthly installment, plus £38 a month off of the arrears, requesting that they suspend the warrant as instructed by the Bank Negotiation Kit. The bank refused, saying under their policy they could not suspend action unless she paid off all of the arrears.
She pointed out to them that this was a ridiculous position to take because if they went to court the judge would be able to exercise their discretion and suspend it anyway and complained that they were being totally unreasonable. They still refused so she filled in a form and got her own court hearing booked as shown in the Court Negotiation Kit.
The bank sent a solicitor on the day to oppose her application. The judge heard the situation and suspended the warrant straight away. She had saved her home.
The banks solicitor said “But Madam, the arrears are £6,000 and the offer of £38 a month is not much”. The judge looked over her glasses at the solicitor and said flatly “It’s enough for me”.
Dawn know what the banks should have been doing because she had the insider knowledge so she was able to act in confidence and get the matter finalised in her favour although the bank would not lose out either in the long run.
Her situation went on for 6 months although she kept going to interviews but was unsuccessful. She had no financial offer that she could make to the bank so eventually they went to court and got a possession order.
The judge generously allowed 2 months on the order in the hope that she would find work but when she didn’t, the bank went back to court and got a warrant of eviction against her home, to change the locks.
The warrant was due to be executed in 10 days’ time but her persistence with interviews paid off. She got a permanent full time post with a take home pay of £1,400 so she could cover the mortgage payments and pay a regular sum off of the arrears. Her new job was due to start 1 week before the eviction.
She called the bank, told them the good news and made an offer of the monthly installment, plus £38 a month off of the arrears, requesting that they suspend the warrant as instructed by the Bank Negotiation Kit. The bank refused, saying under their policy they could not suspend action unless she paid off all of the arrears.
She pointed out to them that this was a ridiculous position to take because if they went to court the judge would be able to exercise their discretion and suspend it anyway and complained that they were being totally unreasonable. They still refused so she filled in a form and got her own court hearing booked as shown in the Court Negotiation Kit.
The bank sent a solicitor on the day to oppose her application. The judge heard the situation and suspended the warrant straight away. She had saved her home.
The banks solicitor said “But Madam, the arrears are £6,000 and the offer of £38 a month is not much”. The judge looked over her glasses at the solicitor and said flatly “It’s enough for me”.
Dawn know what the banks should have been doing because she had the insider knowledge so she was able to act in confidence and get the matter finalised in her favour although the bank would not lose out either in the long run.
Ben's methods of negotiating with the banks really worked and saved my home at the last minute and staved off the bullying tactics of the bank.
Be prepared to fight for your benefits and concessions
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