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While the issue has been discussed in the House of Commons, Joanne said the discussion has not shown the extent of the impact.
“I live in a constant heightened state of anxiety that makes me feel ill and is detrimental to my children”, she said.
She also pointed out this was just her story and there are many others who were suffering in similar ways.
Joanne said the ideal outcome for her and her family would be an allowance to transfer to a repayment mortgage and to be able to use any compensation on the high interest charges to reduce what they owe.
This would mean they would have equity in their home and the monthly payments would be more representative of what Joanne should be paying while reducing the mortgage.
“I would even extend the mortgage term if it was possible,” she added.
Heliodor's response
In response, a spokesperson from Heliodor said: “We recognise that this is a very difficult time for Joanne and also that she is a vulnerable customer.
“We have agreed several mortgage concessions with her in 2022 and 2023. The most recent concession took place between October and December last year.”
The spokesperson added that mortgage property on Joanne’s home has been in arrears continuously since 2010, with the current balance standing at £201,135.57 and that the mortgage term has a further seven years and seven months.
They pointed out that, in 2008, Joanne and her husband agreed for their account to be switched to interest only and that a copy of that agreement was provided to her in response to a complaint raised this month.
In Heliodor's response in 2008, the company reportedly signposted the details of independent organisations offering free support and impartial information for those experiencing financial problems.
“[Joanne] contacted us at the start of this year to confirm that she was still in receipt of benefits, and, as a result, that she cannot afford her mortgage,” the spokesperson stated.
“We have received emails from [Joanne] but at present she has asked us not to make contact with her over the phone. We’d be happy to have a more in-depth conversation with her to properly discuss her options.”
tom.dunstan@ft.com
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