Dreaded mortgage reduction letter arrived!!!

Cud be only those on Higher fixed terms [until it ends] who are going to be effected, The DWP pay the mortgage lender directly, so it shouldnt effect anyones elses Income-

Taffy wrote:

Cud be only those on Higher fixed terms [until it ends] who are going to be effected, The DWP pay the mortgage lender directly, so it shouldnt effect anyones elses Income-

Yes that's what I'm thinking... Hope it's right or it's goodnight vienna..

Hi Taffy

I am confused by this!! Also my fixed term interest rate is for another 2 years. It was bad enough when i had to find £165 withot having this extra. It really makes me cross as i cant change my mortgage lender due to disability so i am in catch 22.

Mm

Hi Millymoo,

To apply for council property you just go to your local housing office and collect an application form. The request is based on need. You may be able to satisfy the criteria for medical emergency.

Social housing is in high demand so the wait is unknown even if you're a high priority.

millymoo wrote:

Hi Taffy

I am confused by this!! Also my fixed term interest rate is for another 2 years. It was bad enough when i had to find £165 withot having this extra. It really makes me cross as i cant change my mortgage lender due to disability so i am in catch 22.

Mm

Hi Mm
Im Not sure ? are you talking Just the Interest or finding the payment for the rest of Mortgage ?

I feel for you if the £165 more is purely to pay the Interest alone .

The Interest prior to the Cut exceeded our Interest, but even with the Cut is still covers it....
Regards
T

Obviously as this isn't a disability/incapacity benefits question, we can't give detailed advice, and we don't advice on individual cases, but based on my experience of advising on housing and debt, I'd like to offer some general thoughts.

When it comes to priorities, the roof over your head comes first, so if you can't meet your mortgage payments, talk to your lender and see what you can negotiate.

Consider renegotiating any other debts you have or seeing if you can get onto lower tariffs for utilities to free up more money for your mortgage payments.

If you're not successful, consider going to an advice service that deals with housing and/or debt. Examples would be Shelter, CAB, local authority welfare adviser etc. You may have charities or organisations that give this sort of advice locally. Whatever you do, don't ignore the problem.

You may also want to get your name on the list for social housing. Check whether your local housing associations have separate lists or use the council housing list and also check out what suitable social housing there is in your area (e.g. adapted, bungalow, warden-supported etc.) then put in an application if you want to consider this option. If you find your mortgage is sorted ok with the lender, you haven't lost anything by being on a list.

Also check out whether any of your local housing associations run any schemes where they will buy and rent back.

But above all, if you can't keep up with your payments, get face to face advice and get it sooner rather than later.

Good luck.