Repossession Process
Below are our 13 articles in the 'repossession process' category:
Once a possession order becomes enforceable, either due to the passage of time or the defendant’s failure to comply with any conditions contained in it, the claimant is likely to apply for a warrant ...
The main identifying feature of a consumer credit mortgage is that it will be for less than £25,000 (although, confusingly, not all mortgages for less than £25,000 are consumer credit mortgages.) ...
Eviction – surely one of those things that only ever happens to other people, not to people like you. The truth is that all sorts of people find themselves facing eviction. The size of the ...
Lenders’ solicitors come in all shapes and sizes. Some will be small specialist units within a law firm whilst others may be more like a call centre operated by people with varying degrees of ...
It can come as a shock to a borrower sitting in a court room, listening to a judge making a possession order over her home, and then - just when things could not possibly get any worse - the judge ...
Lawyers and judges are very good at using words and phrases that nobody else understands. Below is a list of some common phrases used in mortgage repossession cases.
Adjourned ...
Most conventional mortgages are payable by monthly instalments. They are usually for a fixed length and at the end of the term the loan should be cleared. When a judge comes to consider what sort ...
The best investment you can make is in property. The news tells us this. All those property shows on television tell us this. Safe as houses - you cannot go wrong.
The Housing Market in ...
There are several stages to repossession - it will first be dealt with by the lender, then their solicitors, next it will go to court and ultimately, if the worst comes to the worst, it will be ...
1. Mortgage Account Falls into Arrears
For most mortgages the lender will not take any action until an account is two months in arrears. At that stage they may write to the borrower alerting ...
When possession cases come to court lenders usually ask for a "28-day possession order". This will entitle the lender to repossess the property after 28 days. If the lender's case has been put ...
"…I am writing to you about the arrears on your mortgage account…" Words that nobody wants to read over their morning coffee. With most mortgages, if a borrower is behind by the equivalent of two ...
Over the last few years there has been a growing awareness of a lender’s ability to apparently turn an unsecured loan into a secured loan. Borrowers have been horrified to find that a lender is ...
