Couple claim 'mortgage prison' ruined their lives

Chris and Karen Fleming said their lives have been "ruined" by their mortgage lender

A couple from Hull left trapped in a "mortgage prison" after the collapse of Northern Rock 16 years ago are taking their fight to the High Court.

Chris and Karen Fleming saw their mortgage sold on to another lender but their monthly payments tripled to £1,760 and their home was repossessed in 2023.

They are among about 2,500 former customers who are now taking legal action, claiming they were left paying above market average interest rates and were blocked from moving lenders.

A spokesperson for Landmark Mortgages Ltd said it extended Mr Fleming's mortgage at the end of his term to allow him to move to a new lender, the couple were evicted after stopping their payments.

Mr and Mrs Fleming, who live in Bilton, bought their property in 1987 and borrowed £198,000 from Northern Rock on an interest only basis.

But, when Northern Rock was nationalised by the Government in 2008, thousands of mortgages were transferred to other lenders.

Mr Fleming said: "There was no help. There was no offer of negotiation or anything. No compassion, we were just a number and they ruined our lives.

"There have been 17 years of dealing with the stress. You try to make enough money to pay your mortgage as well as raise a family and have a life.

"That's been robbed from us."

'Horrible'

The couple believe they have paid about £1,200 a month in extra interest between 2006 and 2023, and would have paid far less if they had been allowed to swap rates.

Last year, Mr and Mrs Fleming's home was repossessed after their mortgage term came to an end and they were unable to pay off the final £200,000 loan.

"It was the worst day of my life," said Mrs Fleming. "We'd had the house all these years and done loads to it and that happened.

"It was heartbreaking.

"As soon as I wake up, it's on my mind. Leaving the house, the way it went, the way they swarmed in. It was horrible."

Landmark Mortgages spokesperson added: "These sorts of situations are deeply unfortunate but very rare. We work with our customers and try to help them stay in their homes. Eviction is always and only ever a matter of last resort.

"We made repeated attempts to contact him, but he refused to engage seriously, even though he was clearly alerted to the possibility that the home might have to be sold.

"Eventually, he left us with no recourse other than repossession."

Landmark Mortgages Ltd also told the BBC the final decision to repossess the home was made by a court after the Fleming's chose to take legal action.

A report, funded by financial expert Martin Lewis, claims the government made £2.4bn by selling mortgages from collapsed lenders to investment firms.

The Treasury has told the BBC: "This Government recognises the challenges that mortgage borrowers who are unable to switch to a new mortgage deal face.

"That is why we will work with regulators and the industry to ensure this issue is properly addressed."

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