A very sad family is doing their best to deal with July’s completely avoidable death of their 19-year-old son. He died in Washington on May 22, 2016 after a long illness. This tragic loss has further increased their financial struggles, most importantly the repayment on their mortgage with Metro Bank.
The family’s struggles started way before their son’s untimely death. Over the past five years, he was repeatedly sectioned, hospitalised, and placed in secure children’s homes due to his health issues. These facilities all happened to be 60 miles from the family home, which made visiting them on the daily—without disrupting daily life—nearly impossible. To ensure he received care, the family made round trips of 120 miles several times a week to visit their son during his final nine months in supported accommodation.
Their struggles did not end there. Their 14-year-old boy also had an acute mental health crisis during the pandemic. She explains how for the next two years, they continued to coordinate his care at home until it became untenable for him and her other children. Despite their amazing endurance, they were overwhelmed—emotionally and financially. This mounting pressure was reflected in mortgage delinquencies in February and March.
The family had a very good repayment record with Metro Bank. In August, we called them to sort out where things were at. They were looking to have credit file markers waived, as a matter of goodwill due to the aforementioned unique circumstances of their case.
In an admirable and swift response, Metro Bank saw the family’s predicament and agreed to remove the markers. Yet their bank statements showed that they would have a difficult time continuing to make loan payments in the future. Since April, all this time, they’ve continued to keep completely current on all their mortgage payments.
A spokesperson for Metro Bank commented on the situation, stating, “We understand not all customers want to talk to their bank about personal circumstances. For individuals facing financial challenges, we’d advise speaking to us as early as possible to discuss support options available.”
While this is a somewhat extreme example, their experience illustrates how personal tragedies can significantly impact economic well-being. Lastly, it highlights the importance of honest dialogue with our lenders in difficult moments.