What Happens If I Have a Repossession Order?

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What Happens If I Am Refused A Mortgage?: If you are refused a mortgage it will be because you have a poor credit rating and/or a bad credit history.
Information For 1st Time Mortgage Buyers: Your first mortgage will be the most significant financial undertaking of your life so far, but how exactly do you go about getting a mortgage?
What Are ISA Mortgages?: If you take out an intrest only mortgage your lender will expect you to put in place a ‘financial vehicle’ capable of repaying your mortgage at the end of the mortgage term.
Equity Release: Equity Release is a means of using the value of your home to receive either a lump sum of cash or regular monthly instalments.
What Happens If I Have Bank Defaults?: If you have failed to meet payments on a credit agreement such as secured loans, unsecured/personal loans, credit cards, store cards or car finances etc, or you have failed to comply with your lender’s requirements, you will be described as having 'defaulted'.

I have been repossessed in the past.

Whatever your financial history - our mortgage partners will do their best to find a lender that will give you a good deal on a mortgage loan. The only applicants that we will not be able to consider at all will be "Uncleared Bankrupts".

I am close to being repossessed due to lack of payment on my current mortgage.

If you have a possession order it does not mean you will necessarily lose your home. For your home to be repossessed the court will have to acknowledge that there is absolutely no chance of you paying the loan back, and they will give you a number of opportunities to repay the arrears before granting a repossession. In many cases the possession order will be suspended or postponed - giving you the opportunity to repay the arrears within a reasonable time. If you find that you cannot keep to the payments ordered by the court you should seek further advice as soon as possible.

If it is clear to the court that you are unable to repay the arrears and are unlikely to do so within a reasonable period, you will lose your home. The court will notify you of the period within which you must leave the property, and if you continue to stay in the property after this date then you will be evicted.

What is a Fixed Rate Mortgage?

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