ulster bank - mortgage moratorium

Meeting with ulster bank tomorrow - Short version - have split from ex, i am paying the mortgage in full, being made redundant at xmas - going to approach UB about a payment break of 6mths to a year
Ex. not contributing to mortgage since split and is paying his own rent so not in a position to pay the mortgage.
Does anyone know ulster banks position in relation to payment breaks - i previously check contract there is nothing on it in relation to payment break.
i would prefer to be upfront than let it go into arrears which helps no-one....

Ulster Bank are very strict about applying MARP. i.e. They will base their decision on the outcome of a SFS completed by you. I have encountered a number of borrowers who have approched UB for interest only and other options, but they have met with no success. However if you are being made redundant, your financial position is likely to be such that you may not even afford to pay the interest on the mortgage. In that scenario, they will examine other options, which are probably largely depeendent on your financial position improving in the short to medium term!

Is there anyway of getting the sfs and completing it before i go in?????
i dont want this dragging on to several meetings and suddenly i am jobless with no decision......
well reality is i will in no way be able to pay the mortgage - that is why i want to be upfront......
obv if i get a job either immediately or in the short / medium term i would restart payments, but i want to have something in place if this is not the case.......

one last question about this - as this is a joint mortgage, tho the ex. does not contribute will he have to complete the sfs also??? as a joint application or can we separate them??

They are unlikely to even complete the sfs with you in branch, they will give you the phone number of the dept dealing with it and you will ring in with the info and it will be input by them, you can do that there and then in the branch so have all your details with you. I would be inclined to think they will want the joint holder to complete sfs too but won't have to go in with you as such, can do it separately themselves. However if other party is not co-operating then you may have a problem getting any changes to the mortgage.

Should i still go to meeting tomorrow and inform them of the situation and what my proposals are?
I think ex will fill it out, his non-co operation only stretches to non payment!!
we are both going to meet the bank tomorrow.
There is a possibility that we may decide to sell the house, NE and all... but i need some sort of agreement in place in the meantime.... should i mention the selling to them?

No harm in going to the branch. However they will not be in a position to make any decisions. Given that you intend making np payments to the loan in the short term at least you will need to offer them something. Realistically if the house is in negative equity and the Bank are looking at a position where they are likely to receive zero service of the mortgage, your only negotiating ploy is an offer to sell the property. You will need to be realistic. If you have little or no income and a large mortgage with an ex who will pay nothing towards it, you should be looking at a sale of the property.

I understand that no decision will be made tomorrow - but i feel being upfront etc is best route forward.
There is the change that i will get another job, but i have to be realistic also at the moment, there is not much out there (i am looking lest anyone think i am not!!)

I personally think if we sold the house, and apportioned the Ne, i would be in a better position if i do get a job.... i could buy another house, smaller mortgage etc and not be paying my ex's debt for him!!

Hi AOC
there is alot for you to comprehend at present and i am sorry for you in your difficulties, but i would say that in my delaings with Ulster Bank that they have an improving attitude to the current circumstances of people. There is of course a fustration with the length of the process and the completion of the SFS form but i feel if you can meet with somebody you will at least have some contact base going forward. I have attended meeetings with customers of most banks and i have to say my experience with Ulster Bank has been good to date with compassion and understanding in eaqual measure. It does not mean that the solution arrived at for your problem will be any easier for you to take but they do deal with alot of understanding. (And this is coming from me in regard to Ulster Bank!!!!!!) My advice meet with the branch rep and explain the full story and see what are the best options for you. There is a tendancy now for banks to put in place solutions that are a long term fix to the problem as they do not want repeat meetings each and every year for all people in difficulty. Also just Google SFS form and it will bring up plenty links to the form to familarise yourself with the form which is standard for each lender. I hope this helps if i can be of any assistance let me know
Padraic Kissane
Independent Financial Advisor

Thanks Padraic - I will update post meeting!!

ok - so met with the bank yesterday.

what they suggest is that we both fill out sfs and then call the bank (freephone number given) - as we are separated this can be done separately and the bank will amalgamate the information (or if ex. will let me have his details i can make 1 call instead of 2). Call takes approx. 45 minutes! you do not return the sfs to the bank nor do you have to supply a copy to the bank. What happens then is the bank assesses the application - this takes approx. 1 month and they come back with suggestions.
However, I noted that 'our' position re the mortgage and that the only solution for me would be a payment break. Advisor noted that because mortgage up to date no prev pmt breaks etc etc that they may be agreeable to this. Likely between 3 & 6 months only.... and then re-look at it, but these were just opinions.
Got all forms and all information I was looking for in a 30 minute meeting, happy with result so far!!