In March 2020, UK Mortgage Prisoners submitted a COVID-19 report to Government and subsequently to the Treasury Select Committee as evidence of the additional financial hardship and emotional stress mortgage prisoners would incur by the recent pandemic and financial crisis. Yet, as lockdown was announced, things took a more sinister turn for mortgage prisoners. It became apparent that many of our members are Key Workers. Whilst the nation was being asked to ‘Stay Home’ to ‘Save Lives’, they were being asked to work on the front line, literally ‘saving lives’. Our Key Workers having been trapped paying interest rates, way beyond market rates, as a direct result of the 2008 global financial crisis, the nationalisation of high street banks, and the subsequent sale of their homes to book holders with no licence or intention to lend. While the nation clapped for Key Workers every Thursday evening in admiration, they were risking all to fulfil their vocations whilst also feeling forced to do so to keep a roof over their heads.
This brief report has emerged as a result of a survey distributed to Key Workers who are members of UK Mortgage Prisoners. We hope you share our dismay at the continued neglect of all mortgage prisoners after twelve years of indifference. But we particularly hope that you are touched by the hardship that our Key Workers have had to endure, and that this will inspire you to take proactive and immediate action to find appropriate solutions.
Finally, we would also like to dedicate this report to our late Mortgage Prisoner Warrior, Christine Kinsella. Christine was a teacher and worked in a hospital, a ringing endorsement of her kind and gentle character, someone who always wanted to help others. Christine sadly passed away earlier this year after a long battle with a terminal illness. Yet, when she approached Landmark for help with her crippling rates so that she could reduce her hours at work and enjoy her final years, all they offered her was an extension on her mortgage term, but that was beyond the five-year prognosis she had been given. Christine’s son was finally able to take on the mortgage for her, but she soon deteriorated and sadly died some months later without ever having the opportunity to enjoy a vulture fund free life. Yet, she smiled on.
Rest in peace, our dear friend, and Mortgage Prisoner Warrior.
Full report belowUKMP Key Worker Report