How can I stop a repossession?

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How Can I Stop A Repossession?

At Different stages you can stop repossession up until the point of sale of the property.

With the Lender- When you get into arrears of anything from 3 to 6 months and you fail to come to an arrangement with your mortgage lender, the banks can issue a court action. At the court hearing, if you can demonstrate your are able to meet the monthly instalment and to pay a contribution towards the arrears, the judge can suspend the Possession Order. Mortgage lenders are required to take all circumstances into account when making the decision on dealing with a case involving mortgage arrears; and repossessing your home should only be used as a last resort.

With the judge, the court hearing allows the judge to establish whether the mortgage lender will be given permission to proceed with the repossession process. The judge has the final say and will be fair to both sides, by allowing both parties to give their side of the story. If the judge feels that there is absolutley no chance that the borrower will be able to find funds to repay the lender, then he will find for the lender, however in most cases the judge will rule for a suspended order which allows the borrower one last chance to arrange for the lender to be repaid. He will arrange a timetable for the payments to be made to the lender, if the borrower fails to comply with this, the mortgage lender can then apply for an eviction warrent without further court action. It is therefore imperative to stop the eviction order that you do not miss any of the payments from the court schedule.

In some circumstances, you can ask the court to cancel or suspend the order. This is only likely to be successful if the order should not have been made in the first place. This might be because: you had not received the court papers, you didn't know you had a right to defend the case, you did not attend the court hearing, you did not reply to the court in time. You can ask the court to change the terms of a suspended possession order if your circumstances change. For example, you can't keep up the payments because you have lost your job. It will be easier to do this if you have kept to the conditions and the claimant agrees to the change.

The court may decide to adjourn a case or delay an eviction if:

You have an outstanding benefit claim that will clear or significantly reduce the arrears
You are selling your home and the proceeds from the sale will clear the arrears, but you need more time to complete the sale
You are arranging to clear the arrears soon
You are having difficulty finding somewhere else to live
You can prove that you will have sufficient funds to clear or significantly reduce the arrears in the near future.

Repossession Mortgages Frequently Asked Questions

What can the banks do for me?

How can I stop the Repossession?

How do I prepare for a court hearing?

what can I do when eviction proceedings start?

How long does repossession stay on my credit history?

Mortgage Help Desk UK - Mortgage Products

"Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage "

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