Hi
I'm hoping you can help my sister with this quandary. She has some mortgage arrears for various reasons but they are now wanting to sort this issue out. A court hearing has been booked but her mortgage company have called and said they are willing to help and look at options. The arrears are around £5800.
Going forward they can pay the contractual monthly payment plus an amount towards the arrears. The mortgage company say they will consider this but a i and e form must be completed. So I'm trying to help her work out what might be seen as a reasonable offer
Their income is £2700 pm and essential dd etc including mortgage is £1715. On top of that we've allowed for food and a few other bits.
So the remains non essential balance pm is £500. How much of that should she offer and leave herself for entertainment, unexpected expenses etc which would seem fair to mortgage company or potentially a judge.