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mortgage payment missed - what is timescale ?

(2 Posts)
cestlavielife Wed 09-Sep-09 11:55:37

the mortgage has not been paid on joint owned flat, where exP still lies, due to ex's stupidity. ie withdrawing thousands to pay builders ikea etc etc.

I want to let him stew a bit - because he actually refuses to take any responsibility for anything and he needs to understand that it matters...

but how long is it before mortgage bank writes?

how long before they threaten anything?

what is the timescales leading to repossession letters?

have had bank write saying "we didnt pay this amount contact the organisation to make other arrangements"
I asked him to call them and sort it out - as was his overspending.
(tho i know ultimately i am liable as is joint account)
this is joint account which just has payments in and out relating to direct debits for mortgage and insurances. he pays in money but less than relevant outgoings. up to now tenants paid in for a second rented flat, but last tenants moved out end june and ex decidede to completely refurbish so new tenants only just moved in. he said was using his money to refurbish but clearly has now raided the joint account .

(my own account salary, my payments for rented flat i live in etc etc completely separate).
my solicitor is away this week...
we were going tostart ball rolling on financial issues next week (contact issues are a mess as well) but may need to act sooner rather than later??

as i not living there i am not concerned as such about reposession per se - but would affect credit rating aargh.

so dont want it to get so far - but he might only wake up when he sees the seriousness of it??/ letters would go to his address in both names as i havent told them i moved...

MrsGladpuss Thu 10-Sep-09 01:56:11

A charge has probably been incurred already. All banks and building societies need to inform you what charges and fees they make so ask the mortgage lender for a copy of their fees and charges for mortgages so you know what's what.

They will also usually write and/or phone immediately to get you to pay.

The payment needs to be made asap as it will already be being reported on your credit file and reducing your rating.

In theory if you and your ExDP do nothing court action could begin very quickly, after just 2 or 3 months. However, if you contact the lender they are likely to be helpful in cases of financial hardship. Not sure what their position will be where ExDP's spent the money at IKEA...

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