What Happens If I Have a Repossession Order?

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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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