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 9 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



Comments

by

18:16 PM, 22nd April 2013, About 9 years ago

Hi Gary

How much is your property worth? How much equity do you have in it? How much rental are you receiving ? How much is your monthly mortgage payment?

Sorry to bombard you with questions - I MAY be interested in buying your property and helping you not to be repossessed!

My number is 07919108778 if you would like to call to talk about it

Many thanks

Wendy

by Gary Byrne

14:04 PM, 24th April 2013, About 9 years ago

Hi Adrian,

We managed to find a broker that could get us a buy to let mortgage but it comes at a cost and it simply is not worth it. I am slowly waking up to the fact that a debt, in whatever form, is not worth the headache. I want to be debt free and by selling the house I will be just that.

Hi Wendy, dont know what happened with the line but tried ringing you again with no answer. Will try one more time a bit later then will leave it to you to message me on here.

Thankyou

by Gary Byrne

14:04 PM, 24th April 2013, About 9 years ago

Hi Adrian,

We managed to find a broker that could get us a buy to let mortgage but it comes at a cost and it simply is not worth it. I am slowly waking up to the fact that a debt, in whatever form, is not worth the headache. I want to be debt free and by selling the house I will be just that.

Hi Wendy, dont know what happened with the line but tried ringing you again with no answer. Will try one more time a bit later then will leave it to you to message me on here.

Thankyou

by

16:56 PM, 24th April 2013, About 9 years ago

Hi Gary
Sorry yes we got cut off!! Please do try again - my landline is 01270 882231 if that helps. Would still like to talk to you!

Many thanks

Wendy

by Gary Byrne

22:27 PM, 28th April 2013, About 9 years ago

Hi Wendy, I have tried to call you a half dozen times but the call re directs me to another number where I just get a message. Will keep trying tomorrow.

Although I have chosen to sell because I really just want to be debt free there is still a part of me that wants to fight this. I feel that there is something not quite right with the way MX are dealing with this issue so I have been looking into the 'legalities' of mortgages in general and have found something quite interesting.

@ Mark Alexander, I never did hear from your solicitor friend

by Gary Byrne

22:27 PM, 28th April 2013, About 9 years ago

Hi Wendy, I have tried to call you a half dozen times but the call re directs me to another number where I just get a message. Will keep trying tomorrow.

Although I have chosen to sell because I really just want to be debt free there is still a part of me that wants to fight this. I feel that there is something not quite right with the way MX are dealing with this issue so I have been looking into the 'legalities' of mortgages in general and have found something quite interesting.

@ Mark Alexander, I never did hear from your solicitor friend

by Gary Byrne

22:27 PM, 28th April 2013, About 9 years ago

Hi Wendy, I have tried to call you a half dozen times but the call re directs me to another number where I just get a message. Will keep trying tomorrow.

Although I have chosen to sell because I really just want to be debt free there is still a part of me that wants to fight this. I feel that there is something not quite right with the way MX are dealing with this issue so I have been looking into the 'legalities' of mortgages in general and have found something quite interesting.

@ Mark Alexander, I never did hear from your solicitor friend

by Mark Alexander

8:23 AM, 29th April 2013, About 9 years ago

@Gary Byrne - I don't recall mentioning a referral to a solicitor. I do recall advising you to make a complaint to the FOS.

by Gary Byrne

9:03 AM, 29th April 2013, About 9 years ago

Hi Mark. Sorry it was my mistake his name is Mathew Farrow, he is a finance broker. Please forgive me I am doing so much reading up on this corrupt mortgage lender that somewhere along the way I have obviously got my wires crossed. Needless to say Mathew has still not contacted me.

Kind regards

Gary

by Mark Alexander

9:08 AM, 29th April 2013, About 9 years ago

@Gary - I have sent Matthew and email and asked him to call you. Presumably you completed the contact form on this page >>> http://www.property118.com/index.php/mortgage-express-right-to-consolidate/36168/


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