Hi All,
I posted here a good while ago about getting ex off the mortgage (he isnt paying) anyway ICS wouldnt allow it as the house is in negative equity. They agreed to reduce payments for a year, then another year but none of the capital would be paid off and I appealed the decision based on the fact that they didnt offer any long term options. The came back with an extension of the mortgage term (10 years) to when I am 70, however, the monthly repayments were 200 over the reduced amount of 1000. Anyway I appealed that decison to the Financial Ombudsman who offered mediation, I said yes, the bank didnt reply to them at all so they will make a decision based on facts presented. I am falling further into arrears of 400 per month as the bank have not replied to any of my emails/calls about reducing the mortgage while the appeals process is ongoing. What I was wondering is, why the bank didnt agree to the mediation? Would anyone have any thoughts on this?
I posted here a good while ago about getting ex off the mortgage (he isnt paying) anyway ICS wouldnt allow it as the house is in negative equity. They agreed to reduce payments for a year, then another year but none of the capital would be paid off and I appealed the decision based on the fact that they didnt offer any long term options. The came back with an extension of the mortgage term (10 years) to when I am 70, however, the monthly repayments were 200 over the reduced amount of 1000. Anyway I appealed that decison to the Financial Ombudsman who offered mediation, I said yes, the bank didnt reply to them at all so they will make a decision based on facts presented. I am falling further into arrears of 400 per month as the bank have not replied to any of my emails/calls about reducing the mortgage while the appeals process is ongoing. What I was wondering is, why the bank didnt agree to the mediation? Would anyone have any thoughts on this?