What Happens If I Have a Repossession Order?

Hot Topics

Can I Take A Break From Making My Mortgage Repayments?: The ability to take a break from mortgage repayments is a feature of the Flexible, Current Account and Offset mortgages.
Is There Any Way I Can Lower My Monthly Repayments Without Switching Mortgages?: If you find that you cannot afford your monthly mortgage repayments and do not wish to switch your mortgage to another lender – then you will need to negotiate new terms with your existing lender.
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 100% Mortgages?: Most mortgage lenders will only offer a 90% loan to value, that means that they will only loan you 90% of the properties value. First time buyers find this particularly problematic because they need to save up there 10% of the properties value before they can complete on their mortgage.
What if I have mortgage arrears?: If you have mortgage payments that have not been made by the due date in accordance with the mortgage deeds, you will have gained a bad credit history on your credit report. This may hinder you when trying to obtain further credit such as a credit card, loan, or another mortgage.

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?

1st Time Buyer - Buy to Let Mortgages - Capped Rate Mortgages - Discount Mortgages - Fixed Rate Mortgages - Flexible Mortgages - ISA Mortgages - Low Setup Cost Mortgages - Self Cert Mortgages - Tracker Mortgages - 100% Mortgages Cashback Mortgages - Adverse Credit - Buy to Let - Commercial Mortgages - Company Directors - Equity Release - Fixed Rate Mortgages - Income Multiples - Interest Rates Explained - Mortgage Glossary - Mortgages Explained - Previously Declined - Refinance Mortgages - Repaying Mortgages - Right to Buy Mortgages - Self Employed - Unusual Properties - Variable Rate Mortgages

-- Please Note --
This web site is owned by Andromeda Webs Ltd. Andromeda Webs Ltd, is an Appointed Representative of Web Publishing House Ltd. Web Publishing House Ltd is authorised and regulated by the Financial Services Authority for insurance mediation.