Steven complained after his mortgage lender refused to accept his payment proposals after losing his job and falling behind on his mortgage.
What happened
Steven began to fall behind on his mortgage payments when he lost his job. He contacted his lender and asked for help. Steven suggested two repayment options, but the lender wouldn’t agree to either.
Steven first suggested paying £500 a month to pay off the debts. But the lender questioned where Steven would find the extra £500, given that he was already unable to meet the basic payments.
He then suggested paying only the interest for a while but didn’t say how he could get back to the contracted repayments.
What we said
When we reviewed the case, we found that the lender had considered both options but had decided they weren’t practical and explained why.
We didn’t think it needed to agree to Steven’s offers, and we did not uphold his complaint. Instead, we encouraged Steven to work with the lender to find an alternative solution that worked for both of them.