“We recognise that many individuals are struggling with the current cost of living and would encourage anyone experiencing difficulties to get in touch as early as possible to discuss what support is available.”
The spokesperson added that Heliodor frequently liaises with representatives of mortgage prisoners, including their representatives, to help them better understand their options and communicate these as clearly as possible.
They added it has “processes in place” to identify and work with vulnerable customers and are “in regular contact” with the government and the regulator to ensure it is treating customers fairly whilst offering tailored support to those in need.
“We’re also part of ongoing discussions within the industry, including helping to take a lead role in a project to agree an improved customer contact journey for mortgage prisoners,” they added.
Post transfer
Anne-Marie said following the crash, she didn’t remortgage as financial advisers suggested that she “sit tight” as “another mortgage company will come in and buy you out”.
However, 10 years after the crash, she realised how bad the situation had become as she was unable to move.
“Now over the last four years with my son starting cancer treatment, because we aren’t in permanent work and only work when we can, we are disregarded as not being able to move to another mortgage company because of affordability checks,” she explained.
This situation had a huge effect on Anne-Marie as she now has to find an extra £1,000 a month to cover the increased mortgage costs while, at the same time, dealing with increased cost-of-living bills.
She added the effect on her mental health has been “horrendous”, and described having “sleepless nights” and not being able to eat due to the worry of losing the roof over her and her children’s head.
“If I was just married I would have just sold and moved on but we’re doing this for our kids”, she added.
Anne-Marie criticised the government for her situation, saying: “The government sold over 200,000 of us to American finance companies to pay the debts they had incurred making over £2.4bn profit for themselves.
“They knew from the start these companies didn't have lending licenses, the government knew this but threw innocent hardworking people into poverty, suicide and mental health illnesses and their children and families.”
In response, a spokesperson for HM Treasury spokesperson, said: “The government understands the difficulties faced by borrowers who were not able to switch to a new mortgage deal.
“We have updated mortgage lending rules, removing the barrier that prevented some mortgage prisoners from being able to switch, and introduced significant financial and legal protections for those most in difficulty.
