GreenQueen
Registered User
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- 281
I'm thinking it may be easier to give some basic information before I explain in a bit more detail.
Lender: Ulster Bank
Term: 30 years (22 years remaining)
Neg Equity?: Yes
Monthly Repayments: €1,300
Income: €246 per week & Supplementary Welfare Allowance of €80 & 1 x Child Benefit payment per month
Previous 3 month moratorium negotiated in July 2010.
Arrears: None, apart from moratorium.
Savings: Nil
In the second week of July my husband's wages were reduced due to a shortened working week. As soon as he received notification of the intent to reduce his working week and wages (RP9) we contacted the bank to negotiate with them. We were very aware that there was a payment due on the 1st of August and that we would be unable to get the money together to pay it.
The bank were presented with all the information they required on the day of the meeting in the 2nd week of July. The Community Welfare Officer will not be in a position to make a decision on Mortgage Interest Supplement until the bank informs us of their assessment of our situation. The bank has said it will take 30 days to make an assessment and respond to us.
Is this 30 day period normal? We dealt with the same bank last year, provided similar information and received a decision within 10 days. This has left us with no option but to cancel our direct debit for the mortgage next week. We have to pay our utility and food bills which are not huge but need to take precedence over the mortgage repayment. Is there any way we can push the bank to make their decision sooner so that we can recommence some form of repayment for 1st September?
Lender: Ulster Bank
Term: 30 years (22 years remaining)
Neg Equity?: Yes
Monthly Repayments: €1,300
Income: €246 per week & Supplementary Welfare Allowance of €80 & 1 x Child Benefit payment per month
Previous 3 month moratorium negotiated in July 2010.
Arrears: None, apart from moratorium.
Savings: Nil
In the second week of July my husband's wages were reduced due to a shortened working week. As soon as he received notification of the intent to reduce his working week and wages (RP9) we contacted the bank to negotiate with them. We were very aware that there was a payment due on the 1st of August and that we would be unable to get the money together to pay it.
The bank were presented with all the information they required on the day of the meeting in the 2nd week of July. The Community Welfare Officer will not be in a position to make a decision on Mortgage Interest Supplement until the bank informs us of their assessment of our situation. The bank has said it will take 30 days to make an assessment and respond to us.
Is this 30 day period normal? We dealt with the same bank last year, provided similar information and received a decision within 10 days. This has left us with no option but to cancel our direct debit for the mortgage next week. We have to pay our utility and food bills which are not huge but need to take precedence over the mortgage repayment. Is there any way we can push the bank to make their decision sooner so that we can recommence some form of repayment for 1st September?