Mortgage Express are forcing me to sell my home – HELP!

Mortgage Express are forcing me to sell my home – HELP!

16:19 PM, 21st March 2013, About 11 years ago 148

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Mortgage Express are forcing me to sell my homeI own a property in the UK that I rent out since being made redundant, getting offered work in Spain and moving approx 4 years ago. My UK property is my only home and I intend on returning to live in it when the UK comes out of recession and I can get a decent job again. I have a standard variable residential mortgage with Mortgage Express.

I did not tell Mortgage express initially that I was renting my house out as it is my only home, I plan to return there and I do not know how long my work will last in Spain.

They have now been advised and are refusing to give us permission to rent the property out. Therefore they are saying that we are now in breach of contract. They are giving us no options whatsoever with them, they won’t change us to a buy-to-let mortgage and they will not give us more time to improve our LTV rate to be able to remortgage with another company.

We have been told we can not currently remortgage as the LTV is very high and we live in Spain. We are unable to sell as the sale price will not cover the mortgage, second charge on the property and the sale/solicitor fees.

Mortgage Express as saying that if we do not do any of these they will foreclose the mortgage and repossess our home.

We have been a loyal customer for 10 years, we have never been late or missed a payment, and now we have very good, loyal, paying tennants who is enabling us to pay the mortgage each month.

On top of the monthly mortgage payments we want to pay them extra to repay the capital as quickly as we can, or at least lower the mortgage value to improve the LTV.

They will do not do anything to help us.

We feel we are being treated very unfairly. Where they have been bought out by the Government they have changed their policies and taken away all of our options. We did not give permission for these changes, we did not sign anything to adhere to their new policies and we want to know how that affects the mortgage contract with us and if we have any case against them.

All advice very much appreciated.

Gary Byrne

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16:33 PM, 22nd March 2013, About 11 years ago

Yep absolutely agree everyone should follow the correct legal protocols and if that results in them suffering extreme financial detriment they will only have themselves to blame for doing things the legal way!!
I cannot see how MX will ever ascertain this resi occupier's movements and therefore he just returns to the UK and visits Spain a lot!!!
I can't see anything illegal there!
Is there a minimum occupation clause for a resi mortgage!
If there is, it is the first I've heard of it!
Of course there is a bigger picture here concerning how HMRC consider his residency status!!! that is can of worms!!............................will MX write to HMRC to confirm the status of the British national!??
Would HMRC divulge such information!!??
Personally I would hop on a cheapo flight to the UK; sort out the tenant situation; 'move' back in advising MX.
Give a MX a UK PAYG mobile no
Ensure any LL no is changed if MX know it or made ex-directory if they don't.
ANY call will always go the PAYG answerphone which can be collected remotely from Spain as he's out there on ANOTHER long holiday!
If this guy goes threough the courts he will be making a rod for his own back.
We all know what MX are about!
You have to play the game to beat them or lose.
The legal game you WILL invarably lose.
Choices; choices,'s what's life's all about!
Hope he makes the right ones.

Mark Alexander - Founder of Property118

16:56 PM, 22nd March 2013, About 11 years ago

Oh dear, oh dear, oh dear - you really are paranoid aren't you Paul?!!! Under the circumstances Gary is facing I would put my faith in the British legal system over your "hair brained" scheme any day of the week. As you say, choices, choices, choices!

17:42 PM, 22nd March 2013, About 11 years ago

Really!!; I definitely would not; my way would work; what happens when the legal system fails him.
I have used various hare brained schemes in the past which have worked and ARE working even though probably technically not correct in accordance with terms and conditions.
Consequently I am, NOT facing issues this gentleman is facing.
I will continue with my hare-brained schemes as they have worked.
Still it is all down to the individual; let's hope that if he goes the English court system if needed it works for him.
I would be most pessimistic as to the outcome.
MX have a large legal dept and will take him apart in the courts.
They have been tasked to recover ALL the loans and will do whatever it takes to recover.
I don't think MX are interested at all in what their PR situation might look like.
I doubt whether any judge would or could stop this foreclosure.
This guy can stop it all by moving back; technically,still it all down to him.
I would not wish to risk going up against MX in the courts; I couldn't afford legal representation, I would just 'move' back!
I reckon this guy is in a similar position
So he can be hare-brained or be in a rabbit pie!!

18:21 PM, 22nd March 2013, About 11 years ago

Paul, have a lie down.

21:06 PM, 22nd March 2013, About 11 years ago

It's very harrowing ......however I have 3 observations

Gary hope you have declared the income to the Revenue?

Also have the building insurers been told? If the insurance is at risk the mortgage company have a point...

Go the ombudsman route, make the complaint, keep the payments up & good luck x


22:13 PM, 22nd March 2013, About 11 years ago

Hi Gary

Looks like a can of worms. I have 2 mort Ex loans and didn't know the did residential mortgages. My first BTL with them was in 2002,
If you got a residential mortgage from them and then let the property without asking them you were in the wrong.
they closed thier books years ago and were offering borrowers deals to clear their mortgages.
As you are not in arrears, make sure you have landlords insurance with M Express listed as interested party. then with no other option stand firm and fight it.
I have a tenant who has not paid for 5 months and a judge and legal system would like them to live for free in my house.
Is the same legal system going to evict your tenant any time soon and have you repossessed when the mortgage provider has suffered no lose? I think not for a long while.
Good luck with it, stand firm and let us know the outcome.

kay Chas

22:33 PM, 22nd March 2013, About 11 years ago

Paul has a point.
Any one out there beat MX?

Mark Alexander - Founder of Property118

22:46 PM, 22nd March 2013, About 11 years ago

@Katrin - yes, several people have won against MX, they are lashing out in all directions and losing plenty of cases in court and Solicitors Regulatory Tribunals. I know as I have acted as a professional witness in one and and working on a second.

Londoner 43

1:50 AM, 23rd March 2013, About 11 years ago

Gary, How much equity do you have in your property? I have 2 friends who moved abroad for work reasons and have been abroad for over 10 years but intend to return to the UK for retirement, if not sooner. One had a flat in London and let it out, the other bought a flat here while she was already working in New York. Both have obtained EXPATRIATE MORTGAGES, which means they are allowed to let the properties. I know the friend who bought her flat while she was already living abroad (in 2008) did not have a very large deposit - as far as I recall it was 10-15%, which is less than my BTL lender required when I bought my rental flat in 2005. May be different now. Both friends used London & Country as a broker. It may be worth checking if they can help. However, I agree with the advice given by Mark Alexander - you should not give in to MX without a fight! Good luck!

Joe Bloggs

7:47 AM, 23rd March 2013, About 11 years ago

hi mark,
i have disagreed with pauls rougish advices before, but i would put more faith in this sham scam than the 'british justice system' which is neither accessible (unless legally aided or very rich) nor just. and i think adrain jones comment 'Paul, have a lie down.' does not advance anything, is stupid and should be removed.

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