Repossession process
The repossession process can be broken down in 5 distinct stages as outlined below.
Stage one:
Your lender will send you several payment reminders and possibly call you to discuss your financial situation and request payment. They will likely state their intent to repossess your house if you don't repay your mortgage arrears. You still can contact your lender to attempt to find a mutually acceptable agreement. There is still time to repay your mortgage arrears and stop the repossession.
Stage two:
If you don't comply to your lender payment requests they will instruct their solicitor to start the repossession process. Their solicitor will then formally notify you in writing and request immediate payments. He will likely state their intent to repossess your house if you don't repay your mortgage arrears. You still can contact their solicitor to attempt to find a mutually acceptable agreement. There is still time to repay your mortgage arrears and stop the repossession.
Stage three:
If you don't comply to the solicitor letter, your lender's solicitor will start the actual repossession proceedings against you. The matter will be eventually refered to the county court. You still can contact their solicitor to attempt to find a mutually acceptable agreement. There is still time to repay your mortgage arrears and stop the repossession.
Stage four:
The court will then decide on a suitable course of action. Basically the court will either issue:
- an order of possession which give your lender the right to take your house from after a set time (usually 28 days),
- a suspended order of possession if you can demonstrate that you have the means and intend to repay your lender.
County court judges tend to be sympathetic to debtors willing to find a solution outside of the court. We can talk to the judge on your behalf explaining that you are seeking a solution through us. There is still time to repay your mortgage mortgage arrears and stop the repossession.
Stage five:
Unless you have vacated the property as required in the order of possession, the court will send a bailiff with a locksmith to take possession of your house. County court judges tend to be sympathetic to debtors willing to find a solution outside of the court system. We can talk to the judge on your behalf explaining that you are seeking a solution through us. There might still be time to repay your mortgage arrears and stop the repossession.
Mega Quick Sale can help stop the repossession during any of these 5 stages and even until the actual day of eviction. Start buy talking to one of our experts who can take you through your options. Just take a moment to complete our contact form. We will then arrange for one of our experts to call you back at a convenient time to discuss how you can avoid repossession.