Help!!, need to do letter to bank to finalise mortgage..

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Mag2006

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Yes it's me again with another "issue". I need your expertise here guys. Our mortage has been approved in full and the loan offer was to go to solicitor today BUT....:rolleyes:
DH had a loan that he missed payments on years ago and they want a letter from him stating why he missed the payments etc and proving his commitment to repaying. We have been assured we are not going to be refused the mortgage (had problems already!!) but they want a letter explaining why he missed 5 payments prior to clearing it.
Now, the actual truth is the he was contracting at the time and he was not paid for over 6 months by a particular (massive) company he worked for, he even had to get a solicitor at the time to get the money off them. He was in & out of work at the time anyway so there was not a solid income so not being paid for months was a nightmare. We are well over that now it was 6 years ago.
What is the best way to word this....been typing lots this morning. We were told a quick 2 liner signed by him is enough.
Any advice???PLEASEEEE...thank guys you are the best;)
 
Mag2006 said:
He even had to get a solicitor at the time to get the money off them
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Aha, so THAT solicitor has a record of that correspondence . Pay THAT solicitor to send a copy of that to the mortgage people and that should explain the cashflow problem back then .

He was owed money on his contract (his only income) and had to sue or threaten to sue for it.
 
This post will be deleted if not edited immediately 2pack what would I do without you, owe you a few drinks at this stage. I will ring them now actually and get them to fax it over to the bank and we should be fine. If I had brains I would be dangerous wouldn't I!!, Have to say buying this house has been such an uphill battle, terrifying and stressful. We have already decided we will never EVER move out of that house, despite the price of it etc...never EVER doing this again. I really hope we have nice neighbours!!!
 
:D you're gas!!!. I don't blame the ICB. I blame the banks keeping records they don't tell us about but it's not prevented us getting our mortgage thank god but it was hard enough anyway until this reared it's ugly head. Suppose the underwriters have to earn their massive salaries somehow:mad: !!
 
Mag2006 said:
I don't blame the ICB. I blame the banks keeping records they don't tell us about
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You blame them for what? They can hardly be blamed for customers who fail to keep up their loan repayments unless, of course, the customer should not have been given the loan in the first place...
 
Mag2006 said:
I blame the banks keeping records they don't tell us about but it's not prevented us getting our mortgage thank god but it was hard enough anyway until this reared it's ugly head.
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I don't think its the bank's responsibility to advertise to the whole world how far back their records there is some responsibilty on the customer to find out especially if they know there might be issues.

Now, if they deliberately mislead you about how far back records go or did not include old records on foot of a data protection request then you could complain to the data protection commissioner.
 
I have posted on this already so not dragging it out again.
Clubman, my husband is a highly qualified & well paid indiviual that can pay his loans back no problem at all. This was in 2000 so is off the ICB but was on banks internal records and for the record it slipped into arrears coz a major multinational company over here witheld paying him for over 6 months for no reason!!. So the bank lent a good person money.
Also, we did contact the data protection and the bank are in the wrong for what happened btw!
 
It's not the bank's concern as to why customers miss repayments. It's their prerogative (within the limits of the Data Protection Act) to record such matters for as long as they like.
Also, we did contact the data protection and the bank are in the wrong for what happened btw!
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Can you expand on this please?
 
please 2 , I did advise you on data protection issues and would love to hear what happened.
 
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