What Happens If I Have a Repossession Order?

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What Happens If Interest Rates Change?: If you have some form of fixed interest rate mortgage you will be unaffected by changes in interest rates. Otherwise you can expect a change in the rate of interest charged on your mortgage.
Can I Get a Mortgage With A Group Of Friends?: You are allowed to get a mortgage with up to three friends in the same way that you are allowed to get a mortgage with a partner – an idea that is appealing to more young professionals at the moment.
What If I Die Before My Mortgage Is Paid Off?: If you die before your mortgage has been repaid, your estate will face the cost of paying back the outstanding balance. The mortgage will not be written off by the lender, it will have to be paid by the next of kin.
What are Self Certification Mortgages?: When you apply for a mortgage, the lender will require from you proof that you will be able to maintain the mortgage payments, and do not present a risk of non-payment for the large amount of money you are borrowing.
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.

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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