Paying over half of mortgage.. counts as repayment?

[dubinamerica]

Hi I am having serious financial difficulties at the minute. Separated from husband over two years and have been covering the mortgage out of savings and social welfare income. No longer in position to do that as overdraft has hit limit and this months payment has not been made. I had a call from the lender today and they mentioned if over HALF of the payment is made it does not count as a missed payment? Anyone heard of this? So I could continue to pay half and show that I am doing my best to meet my obligations. Would hate for my credit rating to be messed up and to go into arrears or some legal process, but I cannot continue to cover full mortgage. Any help appreciated

 

[Brendan Burgess]

I have not heard that. I doubt if it's true. If you don't make the full repayment, you are classified as in arrears.

Have you gone through the MARP? If they agree to reschedule your mortgage and you meet the reduced repayments, you won't be in arrears.

I wonder if the lender was offering you some form of informal rescheduling?

 

[wbbs]

Doesn't sound right, once a full payment is not missed it does not trigger an arrears situation usually but that only works for one month, once the amount of a second partial payment brings the total missed to over one monthly repayment then the system kicks in. Maybe the staff member is thinking it is only for one month you are asking about.

 

[dubinamerica]

I've been in contact with the lender previously over the phone to indicate that I may hit an issue paying the mortgage and explaining how my ex is not contributing towards mortgage, maintenance etc. They rang me today and the person I spoke with indicated that if I should look after myself and return the financial statement and if I made a payment of over a half then it would not go onto my credit record. I thought he meant for a number of payments but I may have taken that up incorrectly. They said they would also be in contact with my ex.. After all the years I would hate to mess up my credit rating but I cannot in any way meet the full payment at the moment. Even meeting half would be a struggle..
Any more input? Has anyone heard of this before or could it be likely they would do soem informal re-scheduling, just to keep me paying for the moment to avoid a larger build up of arrears? To be honest if I thought this would help avoid a black mark I would really try and squeeze money to meet this with some help from my family.

 

[Wishes]

Sounds odd. Never heard of it before. I would ask them to but this in writing.