Negotiation with your Mortgage Lender is a vital part of your case and can be started at any time. If used successfully, it can stop your case reaching court initially, or encourage a Mortgage Lender to withdraw an eviction Warrant for cases at a later stage.
When you have arrears, your Mortgage Lender will typically start Possession Action against you when your payments reach three months arrears. How soon your Lender carries out that threat is often determined by the Homeowner’s ability to negotiate and satisfy their Lender’s demands.
Each Lender takes a different approach and no two cases, even with the same Mortgage Lender, follow exactly the same path. This is because many factors surrounding the set up of the mortgage and the client’s individual circumstances play a part in how the case unfolds.
Some Lenders will offer you no form of negotiation and instruct their solicitors to handle your case, other Mortgage Lenders will run you around in circles and claim that you must evidence your case with payslips and bank statements so they can question every penny you spend per month. We have seen many cases where they waste your time and keep you occupied while they wait for a court date to be set.