worried - oakwood homes and mortgage arrears

[gilly5001]

HI just looking for some advice, last month I paid our full mortgage payment of £1200. the month previously we only paid £600 leaving us with arrears of £600 which oakwood said we had to repay with an extra £80 per month.

It is now time to ring and pay this months and we have only a couple of hundred pound towards it.

Im dreading the call, and dreading what their next step will be.

My partner self emploted and work has been slack, I have just qualified as a professinal and will be earning £20+ within the next couple of months.#

Do I write and explain , sending a cheque for what we have with a proposal for the arrears. I realise from other threads that I need to have made an effort with the arrears if it goes any further or do I ring them and explain the situation over the phone?

I dont know what to do - prob cause too chicken to make the call.

Next month hopefully will be able to make the mortgage and then no prob at all after that, just need to get through August and Sept payment.

I had an informal telephone conversation last month were I enquired about a break ect but was just told there was nothing they could do and I had to make the full payments each month.

 

GIlly5001

[Ell-enn]

Hi there Gilly, my advice would be to write to Oakwood detailing your problem and making an offer of payment towards the arrears starting in October. Send your letter by recorded or preferably registered post. If you are usure of the correct address, just ring and ask for their address for correspondence. Keep the receipt for posting together with a copy of the letter you send. If you need help with the letter, let me know.

 

It's best not to try and negotiate a payment proposal with them over the phone as their customer services (or whatever they call them) are only trained to pressure you into paying as much as possible. So only deal with them in writing.

 

If they take the matter any further, you can prove that you have kept them advised of your situation and make a proposal for payment of the arrears.

 

Kind Regards

 

Ell-enn

[gilly5001]

Thanks Ell-en, I guess I knew really what should be doing but scared of not talking to them and grovelling etc.

I'll get my letter off in the post tomorrow special delivery of course

 

Thanks again, you're someone special on this site

 

xx

Gilly

[Ell-enn]

Keep us updated on what happens Gilly

[gilly5001]

HI

Just an update on current state of mortgage problems. Have this month wrote again to Oakwood detailing that due to hubbies wages coming at end of October we will be paying two payments in October, so Octobers and Septembers payment. Have also detailed that will be paying £100 off the arrears which after the double payment will be left at £1600. Just hoping that we get through October before they commence court proceedings etc as know this is a short term problem. Knowing Oakwood will probably recieve solicitors letter on Wednesday 1st Oct! Have thought will make payments throughout the month as I am working on temp basis until secure permanent work and hopefully will have a couple of hundred quid a week. hopefully this will show any court that we intend to pay and are trying our best. I'll keep everyone updated on things as and when and hopefully with this site will get through it. so dont want to go to court, will be havig kittens.

 

thanks

Gilly5001

[hari]

Hi Gilly

 

We are currently due to attend a repossession hearing with Oakwood so we have been through the ins and out of the whole palaver with them. We were NOT issued any solicitors letters until our arrears reached 3 months. They also don't take to court if the arrears are less than £1,700 according to Oakwood staff.

 

Don't worry too much I think you are still very much at the 'negotiable ' stage. I have spoken to Oakwood myself this morning as from the advice of this forum we have reduce our repayment offer to £100. They have told us they have instructed the solicitors to 'secure' this at court so although still going for a suspended order they are accepting it before the court tells them they have to!

 

Take all the advice from El-enn and this forum and you can't go wrong.

 

I suspect due to current climate they are being forced to be reasonable. We just have to wait for it all to be rubber stamped. Very best of luck ...I think you will be O.K hun x

[gibbzy24]

Hi

 

Not to worry, i am having the same trouble, i broke my ankle and will be off work for upto 8 months, as far as my dealing with oakwood as long as the arrears are blow £1500 they will not take you to court even if you get a court date you have upto that date to bring the arrears below

£1500 and the court hearing would be cancelled, can i ask have you got a fixed rate interest only or repayment mortgage, if re-payment you can actually have this changed to an interest only for a cost of £100 that would take some pressure off the actual payments until you are back on your feet, hope this helps