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How to Stop Repossession
1. Don’t take emergency finance
Other companies may have misled you into believing that a bridging loan or short-term finance is your best or even only choice. That’s not true. The temporary relief will be short-lived when you are facing repossession for a much higher sum.
2. Don’t accept a quick sale
In desperate situations, you may be tempted to accept a below-market-value “instant cash” offer on your home. Avoid quick sale companies at all costs—they profit from your misfortune. We can provide better options.
3. Get us to help
We can help you navigate through your options. We will force your lender to give you time to make a decision that suits you. Our first step is to assess affordability for you to keep the property long-term. If this is not an option, then we will ensure you speak to regulated finance professionals or have time to sell your property on the open market.
Understanding Your Position
A Hearing will be set if your Lender has applied to your local County Court for a Possession Order on your home. They will usually do so when they feel that your mortgage arrears are too extensive. This usually occurs when Homeowners reach between three and six months of mortgage payment arrears.
There are three main options in dealing with your Repossession Court Hearing
1. ) Don’t Attend
A viable, and sometimes necessary option (under very specific circumstances). If you do not attend the Hearing you will not stop eviction and repossession, the process will typically be suspended for 28 days and after this time your Lender will be able to apply to the Court for an eviction order to take possession of your home.
2. ) Apply for a Suspended Possession Order
A Suspended Possession Order is an Order issued by the Court if it is established that you will be able to clear your arrears over a reasonable period. We have a great deal of successful experience in establishing a good case for our clients so they are able to achieve this outcome.
This will give you a second chance and stop repossession if you maintain the new payment plan set out by the Judge. It is vital that you convince the Judge to provide an order you can afford because if you do not meet the payments then your Lender will be within their rights to apply for an Eviction Order on your home without notice.
3. ) Sell Your property
This is always an option, but one we will try to avoid if possible as we will always aim for you to keep your home. If you do decide this is your most viable option we can help you through the process of negotiation with your Lender and make sure you are protected, fully informed and provided with enough time to sell and find somewhere else to live.
Help With Repossession Court Hearings
By this stage you will have received a large amount of paperwork including payment reminders and warnings of impending legal action from your Mortgage Lender and their Solicitors. Finally you will receive Court paperwork detailing a time and date for your Possession Hearing. HMS know that this is an alarming situation and we are ready to calmly explain your options. We will also explain, in simple English, the documentation you have received up to this point, which can often be overwhelming and layered in technical legal language.

Find out more information about the repossession process by clicking on one of the links below
How We’ve Helped Other Homeowners

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