Stop Repossession & Eviction

We Provide Services to Support You and Stop Repossession

N244 Application & Emergency Hearings

The N244 is an official court application form used by the county court for a number of different applications. It is commonly used either to postpone or stop repossession orders. We also use the application form to apply for an emergency court hearing to get your case in front of a judge so they can decide whether or not to suspend or possibly stop a repossession notice that your lender has secured against you. Read more . . .

Home Repossessions in the UK

Worrying and sometimes unexpected, the threat of repossession can take homeowners by surprise due to spiralling debt, health problems or unemployment. Similarly, increased living costs and high loan to value ratios tend to lead to financial difficulties. Here, we review the procedure that mortgage lenders and property owners follow to serve eviction notices, along with how to obtain help to stop repossession.

Repossession Statistics

UK Finance’s latest Mortgage Arrears and Possessions Update for the first quarter of 2018 reveals that:

• There were 78,800 homeowner mortgages in arrears of 2.5 per cent or more of the outstanding balance in the first quarter of 2018, 8 per cent fewer than in the same quarter of the previous year and the lowest level since records began in 1994.
• Within the total, there were 24,100 homeowner mortgages with more significant arrears (representing 10 per cent or more of the outstanding balance). This was 3 per cent fewer than in the same quarter of the previous year.
• There were 4,500 buy-to-let mortgages in arrears of 2.5 per cent or more of the outstanding balance in the first quarter of 2018, 6 per cent fewer than in the same quarter of the previous year.
• Within the total, there were 1,100 buy-to-let mortgages with more significant arrears (representing 10 per cent or more of the outstanding balance).

Some Repossession Facts and Myths

Thousand of apartments, flats and houses are subject to repossession proceedings every year, but many myths surround the subject.

Despite oft-heard rumours to the contrary, homes cannot be repossessed without warning. Homeowners who have mortgage arrears first receive a letter from the lender, after which there is usually an interval of some two to six months before any legal proceedings commence. Debt collection agencies cannot repossess properties, as only a court can grant such orders if the mortgage is on a residential basis.

Notably, it may be possible to stop repossession by negotiating with the bank or building society concerned and agreeing to: 

• Pay off arrears overtime.
• Refinance the property.
• Sell the property.

Caution is necessary; handing the keys to the property back to the lender will not end the matter. Mortgage lenders can still pursue debtors for up to twelve years in England and Wales and up to five years In Scotland if there is a shortfall after the property is sold.

Additionally, many Homeowners believe that if there is equity in the house, then the Lender will keep the proceeds from the sale. This is not the case, if there is a balance released after the house is sold, then it will be sent back to the Homeowner, however it is going to be significantly reduced from what should be available if you sold the property for yourselves due to:

• The increased solicitors and court costs added to the mortgage.
• The Asset Management Company and estate agents costs for selling the property.
• The increased charges made by you Lender for coordinating the solicitors and Asset Management Company.
• The significant reduction in sale price due to it being a repossessed property.

Of course this does not even account for the time delay in the Lender selling your property and finalising your account and property title. Most Homeowners that are fortunate enough to get some money back, have to wait over 8 months, during which time, no assistance is available for being rehoused. 


What happens if repossession is threatened?

When faced with a court hearing, it is best to seek prompt assistance. In any case, the judge will listen to both sides of the argument; the fact that a lender has applied for a repossession order does not mean that the court will automatically grant one. Professional representation is not always essential, though it may often be advisable or beneficial.

If you are unfortunate enough to be one of them then we can help.