Serious Illness -mortgage arrears

[Broadcaster]

Hi
looking for some advice for my sister who has just been diagnosed with cancer and whose mortgage is on an interest only basis for the last 5 years. Before being diagnosed, she had tried every route including direct with her bank to try to get her mortgage restructured but no luck. Now she has been diagnosed with this serious illness I just wonder if in some way this could be a blessing in disguise (not that anyone would want this). Would the banks take this into consideration if she approaches them again? she has kept up the interest only payments and never missed any over the last 5 years but she really wants to sort out the problem for once and for all given her medical condition.

Any advice?

 

[Brendan Burgess]

You will have to provide meaningful information to get a meaningful answer:

Information required for mortgage arrears and negative equity questions

The first thing to check is to see if she has Payment Protection Insurance.
She should also make sure that the Mortgage Protection policy is up to date, so that if she dies, the mortgage would be substantially paid off.

Brendan

 

[Gerry Canning]

You will have to provide meaningful information to get a meaningful answer:

Information required for mortgage arrears and negative equity questions

The first thing to check is to see if she has Payment Protection Insurance.
She should also make sure that the Mortgage Protection policy is up to date, so that if she dies, the mortgage would be substantially paid off.

Brendan

Broadcaster.
She may have Critical Illness cover on some of her Life Insurance, either on Mortgage or other insurances.
Unlikely to have Payment Protection(most lenders have stopped PPI) but if she has PLEASE revert to me as PPI payment history is at best suspect.
Please check policies out if she has some and do not put in a Claim without advice as Insurance companies are good at finding non payment reasons.
Give me a private call on 0872437139 if you want.

 

[Ger1964V2]

I have same same situation, metastatic stage IV cancer, terminal 2/3 years left.No hope therefore of earn out or payback. Banks have been excellent to deal with and have effectively written off all non-secured debts, and are not progressing any actions till I am dead.

 

[Gerry Canning]

I have same same situation, metastatic stage IV cancer, terminal 2/3 years left.No hope therefore of earn out or payback. Banks have been excellent to deal with and have effectively written off all non-secured debts, and are not progressing any actions till I am dead.

Ger1964V2;
Great to hear Banks have been excellent, too often all we get are the negatives.
Stage IV , that's a tough one,
Best wishes.