I received a phone call in Q4 2016 from EBS to say that my BTL loan has had the incorrect interest rate applied & that this account was now closed. I've not had any written communication from EBS so far but was informed on the phone that the loan is under the remit of the CBI review. To get something in writing I requested a loan statement from the EBS which shows the account as closed with EBS crediting a payment in Q4 to facilitate this.
As context the loan/ mortgage was in arrears for a few years but I engaged with EBS using IMHO and we agreed a proposal that the flat be sold and most of the shortfall written off except for a five figure sum which I would pay off over 7 years. To ensure I could pay this amount over 7 years my PPR mortgage with the EBS was reconfigured and extended by a number of years to ensure that all of the money owing to them per month was 'affordable' (it was crucifying but I had no other option but to agree to it).
Can anyone else who is dealing with EBS tell me if the above has happened to them and is the account likely to remain closed i.e, will EBS not collect the shortfall owing to them by me? Also why are EBS closing accounts without telling people in advance in writing.
Obviously the BTL arrears have impacted my credit history and may have negative implications from a career perspective - have EBS compensated others for this?
As context the loan/ mortgage was in arrears for a few years but I engaged with EBS using IMHO and we agreed a proposal that the flat be sold and most of the shortfall written off except for a five figure sum which I would pay off over 7 years. To ensure I could pay this amount over 7 years my PPR mortgage with the EBS was reconfigured and extended by a number of years to ensure that all of the money owing to them per month was 'affordable' (it was crucifying but I had no other option but to agree to it).
Can anyone else who is dealing with EBS tell me if the above has happened to them and is the account likely to remain closed i.e, will EBS not collect the shortfall owing to them by me? Also why are EBS closing accounts without telling people in advance in writing.
Obviously the BTL arrears have impacted my credit history and may have negative implications from a career perspective - have EBS compensated others for this?
