Tracey,(posted 7645 days ago)I think the chances of what you suggest happening are very slim indeed providing you can maintain the payments as agreed, did you get the agreement in writing? I believe the Abbey National are a member of the Council of Mortgage Lenders. The CML state:
Mortgage Arrears
General Principles
2. The following general principles are relevant to the question of mortgage arrears -
(a) When a borrower falls into arrears, the problem should be handled sympathetically and positively by the lender. The lender's first step will be to try to contact the borrower to discuss the matter.
(b) As soon as financial difficulties arise, the borrower should let the lender know as soon as possible.
(c) Once contact has been established, a plan for dealing with the borrower's financial difficulties and clearing the arrears will be developed consistent with the interests of both the borrower and the lender.
(d) Possession of the property will be sought only as a last resort when attempts to reach alternative arrangements with borrowers have been unsuccessful. The borrower will remain liable for the full mortgage debt.
Tracey, ref (d) above, as alternative arrangements have been successful you should have no problem. However, I am DISGUSTED at the so called sympathetic and positive attitude being adopted by the ABBEY NATIONAL yet again. Tracey have a look at "Handling of Arrears and Possessions" on the CML website: http://www.cml.org.uk/servlet/dycon/zt- cml/cml/live/en/cml/pub_info_arrears
If I were you I would ring the Mortgage Code Compliance Board on 01785 218200 explain the situation and ask them whether Abbey National's taking you to court is the sort of sympathetic and positive treatment referred to in the Mortgage Code. I'm sure we would all be very interested to hear what they have to say. Good Luck.
Mark