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Repossession Facts / Advice
If you are in arrears on mortgage payments and have not come to an agreement to payback the arrears, the mortgage company can start possession action in court to take back your property.
The lender will first issue a claim form which will include a date and time for you to attend a hearing at your local court. The claim form will have particulars of the claim, containing a list of information, including:
- A description of the property to be recovered
- Details of whether the mortgage is regulated under the Consumer Credit Act 1974
- Details of the state of the account
- Details of attempts to repossess the property
- Details of what the lender is seeking (possession of the property)
- Payment of all money outstanding under the mortgage
Important details about the repossession forms!
Your claim form will be accompanied by a N11M form of defence. You need to complete the N11M within 14 days. This form is reasonably straight forward and gives you an opportunity to explain your personal circumstances, why you are in arrears and what you will do to resolve the situation- as in how much you can offer to pay towards the arrears.
You must attend the hearing, even if you have replied to the claim form. The hearing will take place in a private court. You will have an opportunity to put your payment plans before the judge. If the judge believes your offer is reasonable they are likely to grant a suspended possession order. That in effect allows you to keep your property if you continue to pay the ongoing mortgage and an agreed amount towards your arrears.
Failure to comply with the suspended posession order
If you fail to meet the terms of the suspended possession order, the lender can apply for a warrant without any further court action. When an eviction warrant is in force, court bailiffs will set a date when they will go round to the property to ensure that it has been vacated.
If the court does not believe you can realistically afford to clear the arrears they will probably make a possession order, usually effective in 28 days. If this happens and you want to stay in your home it is very important to sort this out asap. The longer you leave it, the harder it is to sort out. We can help.
Call Mark on 07973 203862 NOW!!
You can apply for the court to suspend action if you really are making an attempt to sort yourself out. You will have to convince the judge that you are taking this serious. By contacting us, you are showing this.
* Market Value - what the local agents believe is a reasonable sale price to sell in 4 - 8 weeks
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