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.

You have to start listening OP and stop being so defeatist.
Many people have advised you to talk to an independent mortgage broker but you seemingly gloss over this advice......why?
If you want to keep your home you need to start looking into every possible opportunity.
Also, start looking into the other options you have, it doesn't have to be a £600pm flat or nothing.
Have you spoken to your LC to see if you would be eligible for social housing in your area?
I mean this kindly but repeatedly posting on mn isn't actually doing anything about your problem, you need to get speaking to the people that can advise you properly, the sooner the better.

I am speaking to people. Waiting to hear back from the local council, have booked an appointment with the CAB though that's not until next week. I've also applied for a council bungalow, though they still don't allow pets. Bit wary of a mortgage broker because of a past bad experience but I have emailed a couple in my area.

Thank you.

Please contact the man at L & C which has been recommended to you and other brokers if need be. Good luck

Now isn't the time to be wary of a mortgage broker OP, ask around locally for recommendations if that makes you feel better.....it could be the difference between keeping your home or losing it.

I thought landlords weren't allowed to prevent people from having pets in rented homes any more?

Plus it seems unusual for a council, who generally seem to be more relaxed about 'rules for the sake of rules' as well as council homes being more permanent/long term, so less of a worry that an animal will damage carpets etc that will need to be replaced before the next tenant moves in.

What about one of those companies that buys your house and let’s you live in it until you die and the house becomes theirs?

www.citizensadvice.org.uk/debt-and-money/mortgage-problems-debt-and-money/how-to-sort-out-your-mortgage-problems/sale-and-rent-back-schemes/

Something has gone wrong here. Contact the Financial Ombudsman Service on 0800 023 4567 and ask them to send a complaint letter to the company in question. Tell them the situation, that it’s urgent and you are vulnerable. It will then trigger a process whereby the company will look into your complaint (but they have up to 8 weeks to do so).

It's council owned flats which are small and have no garden space so not suitable for a dog unfortunately!

Go look on the Equity release council's site and find a reputable broker who an help you.

www.equityreleasecouncil.com/find-a-member/advisers/

NailTapBucket could you say why you only have such a small amount of equity having owned since 2002? It sounds as if your mortgage company haven't been great.

We had to remortgage to pay for some repairs.

OP, I think it’s just a bit confusing in terms of what has happened here. From what you’ve said, you bought the house in 2002 from the council ( you were an existing tenant and had lived there since 1985) and until 2021 (19 years) you were on a repayment mortgage. Then you switched to interest only. What is confusing is that on a standard mortgage term of 25 years you’d be almost paid off by now. I just can’t do the maths as to how you can owe 65k on a house that’s only worth 100k, as presumably it’s gone up in value a bit over that time.

sorry- cross posted.

You must speak to a broker. They can do magical things, if you have had a bad experience then use someone else. It sounds like your best hope. Good luck.

Agree a broker is your best bet. Don’t apply for things online. They only work when your circumstances are straightforward.

That's tough. It's obviously going to be in everyone's interest that you stay in your home - I doubt your mortgage lender want to go through the process of forcing for a sale, especially in the current market.

Definitely try a broker - people have all kinds of situations and brokers can usually find solutions.

Also, post on Money Saving Expert Mortgages and Endowments forum.

It was 85k yesterday

I think, although obviously take professional advice, that you can't just be evicted from a residential property, even a mortgages one, without it going through the courts and their having an order for sale. So you do have some time on your side. Take this time to expire all options and get advice. I don't believe that you have to be out in 14 days. The mortgage company may start the process then, but it will take time to conclude.

Good luck.

Post was deleted yesterday for sock puppeting.

I posted on that one, similar advice to here.

The issue you are going to have in getting a capital repayment mortgage will be your ages - thinking back to yesterday.

I explained thst - I'd read it wrong initially!

This

The ONLY action that will keep OP in her current home is securing another mortgage lender. All other actions should be plan B, yet this is all that’s being focused on.

No one has to follow the advice of posters on MN but don’t expect people to post advice if you’re going to go ostrich about it. It’s super stressful but you have to get over 1 bad experience.

The thing is OP, you are 67 and your DH is 77. Yesterday I and others expressed doubt that you could have been offered a repayment mortgage back in June when you do not work and have limited pensions.

You also didn't receive any paperwork regarding this nor did your monthly payments increase when you were supposed to have switched from Interest Only to Repayment mortgage as you supposed was agreed in June.

I think you misunderstood what was said in June regarding your options.