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What are Mortgage Arrears?

You are in mortgage arrears if you have missed at least one payment on your mortgage plan. This is usually the beginning of any issue ending in repossession and eviction and it is prudent to fix the problem before it gets any worse. We can give you tailored advice on your mortgage arrears if you call us now, alternatively read on for more information.

What Happens Next?

There are many reasons that people fall into arrears with their mortgage Lender, in many cases these circumstances are unavoidable. We at HMS have encountered and successfully resolved every scenario and are primed to do so again with your mortgage arrears.
If you have only missed one payment it is unlikely that you will have any issues with your Lender as long as you make a suitable proposal to repay the arrears over time. It is advisable that you negotiate with your lender as soon as possible.

If you have fallen behind and are in mortgage arrears of no more than three months, once again, Lenders tend to be sympathetic and will usually be willing to negotiate a payment arrangement to allow you to catch up. On the slight chance that your Lender in unwilling to negotiate, get in touch and we will insist that they do.
You should get in touch if you have a longer history of mortgage arrears as Lenders will be less lenient and will persist in obtaining financial recovery of the arrears and may even pursue immediate court action.

Usually at this stage Lenders will instruct a 'Debt Counsellor' or ‘Field Agent’ this person will meet with you and undertake an 'income and expenditure assessment' designed to determine what you can and cannot afford to pay. The Debt Counsellor's report will be sent to your Lender and their bill will added to your mortgage account.

Often these reports are used to shore up the Lender’s case against you in future. You have every right to refuse this counsellor's 'service', but you must contact your Lender directly and say so. Alternatively call HMS and we will guide you through the process, making sure you are not taken advantage of at any point.

If you need any further advice regarding mortgage arrears, please call us and we can discuss your options.

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  • We had a few days before we were going to get evicted calling Homeowner Management Systems saved us they knew exactly what to do I wish we called weeks ago! Client Testimonial

  • Thank you David and Team, we would be homeless as I type this if it wasn’t for your immediate action, I will stay in touch if Kensington mess me around again. Client Testimonial

  • Richard I wish I followed your advice sooner, I wasted so much time thinking that Acenden were going to help me, but you were right all along, Thank you for putting it behind me. Client Testimonial

  • Dear Jim, the difference it has made since you handled the LPA Receiver is incredible, I now have the information and statements that I have been requesting for over 6 months!!! Client Testimonial

  • I can’t believe I was going to borrow the money to clear the arrears, thanks to you guys I can continue with payments I can afford every month. Client Testimonial

  • When Santander said they will not accept my proposals I thought I had no choice, but you really made them sit up and listen, thank you Client Testimonial