Key Post Has anyone approached their lender recently to reschedule their mortgage?

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They haven't even asked for a breakdown of income etc., I wouldn't mind if they felt we were in a position to pay the mortgage, but as I said I have phoned and written to them and they aren't forthcoming with any solutions. I have put it down to the fact we are on a fixed rate, I intend phoning them again this week but really have to be in the right frame of mind to do so - it's like banging your head of a brick wall dealing with them.
 
Hi advisor

I could half understand it if you were on a cheap tracker rate on which they were losing money. If you are on a higher fixed rate, it shouldn't make much odds to them if you got interest only. They will still continue to charge you the interest, whether you meet your repayments or not.

It's important to sort it out as your credit record will be affected if you don't come to an agreement with them.

you could lodge a formal complaint with the Ombudsman that they have not adhered to the CCMA. That would mean that the complaint would be escalated to the right level.

Brendan
 
Hi We are with Start Mortgages and have agreed to increase the duration from 21yr to 31yr. Perhaps its not the best option as it certainly does cost a lot more in the long run. However it will reduce our monthly repayments a couple of hundred which we badly need. Our plan is to sell as soon as the market stabalises. Start are a subprime lender but we managed to get a mortgage supplement of €86/week.
 
With KBC. Two mortgages: family home and second property (on interest only which we had hoped to sell but not moving in current market). Granted extension of second mortgage interest-only period for another 12 months and switch of family home to interest only, once we had the income/exp sheet filled in. No problems and pleasant to deal with. Echo previous posters' views on KBC.
 
Mortgage with ACC. Would not give interest only payments but have reduced overall payment dramatically. All in all I found them very helpful.
 
Mortgage with ICS. Given 3 months payment holiday in 2008 with no issue. Recently given 6 months interest only again no problems. Minimal form filling, staff very helpful.
 
Nib

I have approached NIB about rescheduling.

Its been a night mare so far. Every time I think its sorted there is another problem, I have had exhaustive presentations and got advice.

They have renaged on a written agreement.

I was told by a manager that they would take my home and put me out on the street and sell it at any price leaving me paying them for the rest of my life.

They certainly don't do anything like it says on their website.

Also the home loan was 2 years old and the bank opened a servicing account with out my knowledge this account was set up and overdrawn before i ever knew it existed. I assumed it was impossible for a bank to open an account in my name without my signature
 
Did you go direct to NIB or through a broker?
We got approval for a mortgage with them, but never went through with it.

It clearly stated we had to open a current account with them, and the mortgage (and the insurance if taken out with NIB) had to be paid through that account.

There was separate documentation about the current account. And we got separate documentation through the post about this account (like opening any other account), and a chequebook for it etc.
 
We're with ICS - phoned them about three months ago explaining drop in income - said they would send out financial review forms - filled them out and sent in a cover letter explaining things and a MABS budget sheet - sent it all back because there were no bank statements - added them and sent it back - that was 7 weeks ago - not a dicky bird since..........
 
Im with Bank of Scotland Ireland (Certus) - reduced mortgage payments - had to send bank statements for 6 months and Income Expenditure sheet - Mortgage reduced from 758 to 500 for 6 months which is a huge help for us, this is the second block of 6 months reduction for us, although the 1st 6 months was easier to achieve before Certus took over - I think its just due to the overwhelming amount of applications. Really nice people to deal with, efficient, polite and sympathetic, and an example to other lenders. Good luck in dealing with your bank, but if its any consolation to you, I think every second or third person in the country is experiencing some sort of difficulty with debt at the moment.
 
I know this sounds really stupid - but I wasn't sure what the standard time was for these things and did a bit of head in the sand - but since I've sent that in things have gotten worse so I will pull my head out and call tomorrow
 
I called them today - they say they received it as the start of march and that they are currently still dealing with submissions from end of february - she said it would probably be another 10 days until we hear anything from them. Seem to be inundated......
 
NIB Trackers

Anyone out there having problems with NIB shifting people of TRACKERS ?

I have 2 mortgages with NIB both for 15years.
First 5 years was interest only on both at 1% over Euribor. One went C&I last year and the other goes C&I shortly and I simply cannot afford to fund both and NIB know this.
After 6 months of negotiating my NIB mgr kept promising me over the phone 'an affordable restructuring' ie 20 years C&I on both ( but still repayable within remaining 10 year period) which would be very difficult but just about affordable.

NIB mgr actually came back to me and said better for me to have 20 years on one and interest only on the other rather than what I was proposing. I was very pleased with this obviously.

Every time I insisted on speaking to credit directly he would fob me off and say 'don't worry I have it sorted'.
After 7 months of this I then insisted on written confirmation. I got a letter days before Christmas to say that yes they would agree to 20 years on one and interest only, on the other but only for 1 year and the margin would increase to 1.5% over euribor. Then bombshell they also insisted I sell my S23 apartment with over 400k of unused allowances immediately which would be absolute madness not only for me but for the bank as well.

There is no way that I will agree to a one year deal !

Can we NIB trackers get together like our PTSB friends ?
Please let me know what you think.
 
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netz said:
Im with Bank of Scotland Ireland (Certus) - reduced mortgage payments - had to send bank statements for 6 months and Income Expenditure sheet - Mortgage reduced from 758 to 500 for 6 months which is a huge help for us, this is the second block of 6 months reduction for us, although the 1st 6 months was easier to achieve before Certus took over - I think its just due to the overwhelming amount of applications. Really nice people to deal with, efficient, polite and sympathetic, and an example to other lenders. Good luck in dealing with your bank, but if its any consolation to you, I think every second or third person in the country is experiencing some sort of difficulty with debt at the moment.
Click to expand...

Got a leter this week from Bank of Scotland telling me I was in arreasr of 258 - AFTER agreed restructuring!! I rang Certus to be told that while I was not in arrears in Ireland, I was from their head office in Scotland??
When your up to your neck in financial problems, and you are really trying your best to sort everything out, this incompetence is awful. If I get another letter, I will be ringing ombudsman.
 
Hi .

have 5 year fixed @ 4.25% . €1,800 per month with 4 years left.

What is the likely of holding onto that rate if we approach ICS to get monthly payment reduced until I find a new job.

Will we loose that fixed rate and end up going onnto variable ? Haven't approached our lender yet .

My wife says keep paying the €1,800 but he leaves things very thight for us on a monthly basis.

Suggestions please
 
netz said:
Got a leter this week from Bank of Scotland telling me I was in arreasr of 258 - AFTER agreed restructuring!! I rang Certus to be told that while I was not in arrears in Ireland, I was from their head office in Scotland??
When your up to your neck in financial problems, and you are really trying your best to sort everything out, this incompetence is awful. If I get another letter, I will be ringing ombudsman.
Click to expand...

Ok so - Certus keep ringing me after this has been restructured. They have phoned me 3 times, and 2 letters about these "arrears" When I tell them that I had a restructure from March - August inclusive, (Arrears are from from March) but they just will not listen. Any advice please on what to do here?
 
NIB Trackers

Its interesting that a number of posters are having issues with NIB.
Could it be that they (NIB) are less flexable because they are also it seems the bank that gave out the best value tracker mortgages during the boom. I know serveral people including myself who got trackers from NIB at rates of ECB + .60 or less ... not that it would excuses them from not applying the code of practice correctly.
 
Hi All, the is my first time posting. I just wanted to share my experience with KBC Bank who I am negotiating with under the MARPS process. I am experience some difficulty meeting my repayments of EUR1,200 per month and am currently EUR1,300 in arrears.

I wrote and explained my situation. They sent me the Standard Financial Statement which I completed and sent back. I just got a call from a very nice guy at KBC saying that they were willing to reduce my payments to EUR450 for 3 months to allow me time to clear my arrears.

This is a huge relief and I am happy to report that they have been thoroughly professional and courteous at all times and never did I feel ashamed or embarrassed about my situation.

My advice to anybody experiencing difficulty with their mortgage repayments is to make contact with your lender without delay, write and follow up (every day if you have to). Keep in contact with them, make sure they can contact you. Do your best to stick to any restructure. I honestly feel like a weight has been lifted from me. In addition they said that after the three months they would review again.

To anybody struggling don't bury your head in the sand, make that call, write a letter. By this very action you will feel like you are gaining control of the situation. There are thousands of people in the same situation. Just engage, engage, engage with your lender.
 
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