Totally and utterly fed up

[NailTapBucket]

I'm losing the house that I love. No way around it, just been talking to an estate agent about selling it to try to get something back. I've lived here since 1985 and my kids grew up here.

It's also looking like I'm going to have to rehome my dog. He's very energetic and loves the big garden we have now. Been looking at renting a flat but they don't allow pets and he'd hate it anyway. And they're all £600 or so a month which is going to be difficult.

Can't get any help from the mortgage company - they're pushing me towards a lifetime mortgage and I've applied for a few online but been turned down. Trying to speak to shelter but they have no advisors available at the moment.

The stress means I barely slept last night so my health condition is flaring up and I can hardly move about.

I posted yesterday for help and advice but got accused of all sorts by other posters and now the thread has been deleted so I can't even access the few helpful posts.

I'm just so absolutely gutted to be losing the only home I've had for such a long time. Genuinely keep bursting into tears and I can't look at my dog because I feel so damn guilty.

What happened OP?

I don’t know anything about the last post so I don’t know the background behind your current circumstance.

Are you in debt or you just now simply can’t afford the bills?

is any part of your house suitable to let out i.e. could you take a lodger?

I explained the mortgage stuff in my last post and was called a liar and a troll unfortunately.

The term on the mortgage is up and Platform wants 65k within 14 days which just isn't possible. Both my husband and I are disabled and unable to work.

Ahhh, so the mortgage term is up but you’ve paid interest only at some point so it’s not all paid off? If you only owe 65k surely there is equity in the house that will be released when you sell? How long have you known the term was ending before contacting the mortgage company?

Have you contacted your local housing associations and council? They may be able to provide housing for all of you.

A lot of people can't see outside the London/SE bubble where anyone who's owned a house since the 1980s is now sitting on a substantial six figure asset that they own outright.

I assume that you've been on an interest only mortgage or had an endowment that's underperformed or previously been cashed in and you also don't have any scope to downsize?

Will you be entitled to help with housing costs if you rent and/or social housing, especially if you're on a low income and are disabled?

Maybe you can get the dog fostered temporarily until you find a suitable rented home?

I agree that Shelter might be able to advise you on your options.

Is it possible for your lender to put a charge on your home so they get their money back when you die?

Did you have an endowment or interest only mortage?

It's just a 2 bed terrace. Only bought it in 2002 ish from the council. Downsizing is a flat and that means I can't keep my dog.

I spoke to the mortgage company in the summer and they agreed to switch us back to a repayment mortgage, which we can afford. Just not £600+ for a rented flat.

We both have state pensions my husband has a small private pension (under £100/m) which seems to bar us from claiming certain things.

And honestly the thought of packing every thing to move is making me feel like throwing up.

if you can afford the repayment mortgage why can't you stay?

Switched to Interest only when I had Covid and was seriously ill in hospital/ICU for three months as obviously I had no choice but to give up work. And its left me with lung problems that mean I'm unable to work as I can't stand or walk for more than a few minutes.

Because the company is denying that the plan for the repayment mortgage was ever set up. I have names and dates of what was said when and they just keep telling me I'm mistaken. They're also saying they've been trying to ring me yet I only have a mobile phone and have never received a call from them. The number isn't blocked either. They also said they've been writing to us yet we've had no letters or any contact since the summer. The repayment mortgage wasn't due to start until Jan so I feel totally and absolutely blindsided.

Didn’t read the last thread/know about it.

Have you contacted an independent mortgage broker? They will know about and have access to tons of mortgages. You don’t pay, they get commission usually.

I assume the mortgage is up and from being on interest only for a period there is capital left to repay. Can I assume you are older and as disabled maybe income is via benefits? All this is still doable.

You need to make an official complaint to them. Try resolver.co.uk and if that doesn't work, the financial ombudsman.

Is the £65k the total of what you owe? If you have a state pension, you should be able to afford that amount. They probably don't want to repossess and if they try, they can't make you move out until you've been to court, so if you keep all your correspondence, you can show that you've engaged with them and tried to work things out.

Are you still making your full monthly payment now?

What's your mortgage rate and could you remortgage? Could you be a mortgage prisoner and is there anything helpful here:

www.moneysavingexpert.com/mortgages/mortgage-prisoners/

@NailTapBucket

I didn't see your other thread.

I think you have some good advice on this thread, so try not to worry about the list thread.

is £65 the total of the mortgage on your house? If it was sold, how much would it sell for?

do you have any other debt?

I'm sorry you're in the position & so stressed out, but if you follow the advice I'm sure this can be sorted out & you won't have to lose your house or your dog cx

I know for a fact it is possible for (elderly) pensioners on state pension and benefits plus a very small private pension to get mortgages for this amount as a family member is going through it. Your options will be limited hence suggesting speaking to an independent broker.

The other issue could be credit rating and not income related.

The mortgage company can't help. They won't consider a repayment mortgage and I can't get a lifetime mortgage. The house is worth between 80-100k according to zoopla and I have 41k in equity. Selling and renting is genuinely the only option I have.

I've also never missed a payment and have a reasonable credit rating.

I remember your post from yesterday. The usual screaming banshees posting and shrieking about your finances.

I suspect you’ve considered this OP, but have you spoken with an independent mortgage advisor to see if they can help in anyway?

No eperience of this but could you look into this
www.citizensadvice.org.uk/debt-and-money/mortgage-problems-debt-and-money/how-to-sort-out-your-mortgage-problems/sale-and-rent-back-schemes/

I saw your last thread.

I didn’t see why it was deleted.

a life time mortgage is equity release, you basically get to live in the house for the rest of your life or until you go into care, then ownership passes to the lender, who then sell it and take their money back. Interest is charged at compound.

however if you’re very low income it might be better for you just to sell and move to rented.as then you don’t need money for repairs. You will be able to claim housing benefit at some point to support you.

Just because you’ve never missed a mortgage payment doesn’t equal a good credit rating and you’re not understanding the difference between the mortgage company and an independent mortgage broker.

Anyway good luck to you.

If you are both disabled are you receiving AA/DLA? And what about Pension Credit ?

The guy I used to use at London and Country moved from general to finding mortgages for people with difficult financial circumstances try [email protected]

No advice but wishing you some good luck @NailTapBucket