Repossession Process 2

Letters from your lender's solicitor

When solicitors get involved, they will send you a letter giving you seven days to pay off all your arrears or make a proposal for doing so. If they are not satisfied with your response, they can start court action without any further warning.  It is definitely still worth trying to negotiate at this stage. Even if you can't come to an agreement, the court is more likely to be sympathetic if you made an effort to sort things out before legal action was started.

If the case goes to court

If you have not been able to stop your lender from starting court action, it doesn't necessarily mean that you will lose your home. It's still worth trying to negotiate a solution before the hearing. If this isn't possible, the court will listen to both sides and will decide what should happen to your home.  You should get advice before the case goes to court. The options that may be available may depend on the reasons why you have been threatened with repossession.

The Court Process of Repossession

Taking action to repossess a property involves a number of stages, which can take a few weeks or months. You may be able to stop the process at any stage, so get advice immediately and keep negotiating with your lender or freeholder.  The earlier you take action the more options you will have and the less you will have to pay in legal costs. There are special rules about the procedures that must be followed at each stage - if they are not, you may be able to stop or delay the eviction.

Reasons for repossession

There has to be a legal reason for your home to be repossessed. The most common reason is if you don't pay your mortgage or other secured loan taken out against your home. Leaseholders can also be evicted by their freeholder if they break the conditions of their lease, such as not paying ground rent or service charges, but this is unusual.  The only other way in which you can be made to leave your home is if the local authority or another public body makes a 'compulsory purchase order' to buy your home. This normally only happens if a major local development, such as a road widening scheme, is planned. If you are in this situation you will be entitled to compensation and should get advice.  If you are in arrears you should try to pay as much as you can on a regular basis, even after court action has been started.

At Quick Property Sale we could stop your home being repossessed.  Contact us now on 0800 1077939 or click here

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