In March 2002, my partner and I who had been battling with Royal Bank of Scotland for several years over our mortgage and business dealings, finally settled for a non status mortgage with Sourthern Pacific Mortgage Lenders (SPML). We were both self employed at the time, with a limited company so this seemed our only way forward.(posted 7548 days ago)In May 2002 our world was shattered when our only son was diagnosed with cancer. Due to his treatment, we were unable to maintain our businesses in the long run and fell into arrears. I did write to the mortgage company informing them of our son's condition several times, but when I received legal notices and contacted them by telephone, they said they had not received them.
In November 2002, a friend offered us the use of his flat for the winter and then on a longer term basis in exchange for duties around his campsite, so our occomodation is now a "tyed" arrangment.
As a result of the pressure from our son's illness, our businesses have folded and we are quite happy with our new relatively stress free existance and or expecting a child in November ( although this was extremely unplanned after 16 years!).
However, we have found it very difficult to return to our house and now understand it is for sale, we assume the mortgage company has repossessed the house. We realise now, we probably should of handed over the keys to the mortage lender, but simply could not cope with anything else at the time.
We are happy for the house to be sold/repossessed, however, we need to make sure that our new life is protected as much as possible, our income will be £15 000 per annum on a self employed basis plus living accommodation.
Please advice us what we need to do now?