Due to ill-health three years ago we built up arrears with First National Bank who had a second charge on our house. I suppose we were lucky to get away with the arrears for so long but due to a combination of false promises and the usual case of burying our heads in the sand, we did.(posted 7528 days ago)Davis & co then got involved and did their best to have us evicted. Their Miss Raja, (anyone heard of her?), told us that First National would be open to an offer to settle. When we made an offer she stated that they would only accept the full amount. What's the point in saying they'll accept an offer and then saying they won't?
With 20 days to go before the eviction we contacted a mortgage broker who arrived, covered with gold chains in a soft top Jaguar. My first reaction was that he was a con artist who was only trying to rip us off. He left two hours later and I still had the same opinion.
Within seven days the house had been valued, the solicitors carried out the conveyencing in one day instead of the usual four weeks and had the eviction stopped and we had a mortgage offer a week later and paid off the Halifax and First National. I couldn't believe how fast everything was done.
It's true to say that the interest rate and brokers fees are very high but now that we've got good money coming in again they're very affordable and are certainly better than being evicted.
I've purposly not posted the brokers details because I don't want to look like an advert.
I just hope anyone reading this who is in the same position that we were in can realise that there is always hope.