Paying Your Mortgage Arrears

Paying your Mortgage Arrears

Normally, lenders will allow you to be two months’ payments in arrears before passing your case onto their legal department.

This website contains free practical advice to help you stop your repossession today.

Under the terms of your mortgage agreement with your lender (or with your second charge lender), the lender can ask a court to grant them possession of the property so that they can recover the money they have loaned you, including any Paying Your Mortgage Arrears and legal costs of this recovery.

Mortgage Arrears Facts

  • Your lender will always prefer you Paying Your Mortgage Arrears rather than taking you to court
  • However, some sub prime lenders make more money form you in penalties and fees
  • Once your lender starts repossession proceedings your costs can spiral leading to further debts
  • Paying Your Mortgage Arrears as soon as possible will keep extra costs and penalties to a minimum

What Are My Options?

At this stage you still have the most options open to you. You can pay your arrears, sell your home and move, or sell and rent back your home. To find out more download our PDF guide to repossession.

You Can Stop Repossession Now

By any of the lenders listed below – Act now – Click Here

How to fill in Form N244