I am same as you Tara, no need for mortgage holiday as I am still receiving an income. However, paying 4.39% on my mortgage every month when rates are 0.01 really is both difficult and immoral! How this can ever be justified I don’t know. Many more mortgage prisoners to come too, IMO. Banks already increasing cost of new loans and job losses en masse will make people ineligible for re-mortgages. The default is the huge SVRs that were introduced to increase profits for banks – including Govt-owned bank UKAR- during the last financial crisis. Landmark (AKA Cerberus); Whistletree (AKA TSB); MAS (AKA Coop) making a killing in times of crisis…
- Press Release: UK MORTGAGE PRISONERS ESTABLISHED AS NOT-FOR-PROFIT TO BOOST CAMPAIGN EFFORTS
- Response from the UK Mortgage Prisoners Action Group to CP 20/13: Consultation on mortgages
- Which? Money Podcast Mortgage Prisoners: can they escape?
- Press release: Response to FCA ‘Statement on mortgage prisoners’ and ‘Consultation on mortgages’
- UK Mortgage Prisoners Report ‘Poverty Premium: It costs more to be poor’