New Money Podcast by Which? on Mortgage Prisoners.
Listen to mortgage prisoners Jill, Chris, and Rachel being interviewed on their experiences on having their homes sold onto and passed around by ‘zombie lenders’. Listen to how some mortgage prisoners with terminal illnesses are spending their last days working to pay high interest rates on their mortgage. Some are old age pensioners, carers for disabled are ill partners, and children going without. Worst of all, many mortgage prisoners were sold to these ‘zombie lenders’ by the Government.
Also listen to Damian from Harcus Parker on group action being taken on behalf of mortgage prisoners to obtain reimbursement and a fair rate. Mortgage holders should not be penalised because companies “fundamentally change the way they do business”. It is buried within ALL mortgage contracts that anyone can have their mortgages sold on at any time.
Although compensation and reimbursement may be possible, mortgage prisoners need ‘a voice in parliament’. Listen to Seema Malhotra MP talk about how she found out about the extent of the mortgage prisoner issue and has now set up the APPG Mortgage Prisoners.
Listen to the whole podcast by Which? below