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 arrears and legal costs of this recovery.
Mortgage Arrears Facts
Your lender will always prefer being paid to 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
Pay off your arrears as soon as possible - this will keep extra costs 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 - Contact Us
A national cash property buyer, Cash For My House offer ethical Sell & Rent Back Services
that can also include Buy Back Options and Fast Property Purchases.
They also provide a Free Home Valuation Report.
