NAME: Mr & Mrs Lloyd
ARREARS:Mortgage Expired

Time Available: 6 days vefore eviction.

Mr & Mrs Lloyd had a mortgage with The Woolwich (Barclays) which had expired 1 year previously. Despite many failed attempts to negotiate an extension and refinance the property, Mr & Mrs Lloyd accepted that they need to sell the property to try and avoid being repossessed.

The Woolwich had given 6 months previously to repay the mortgage, which was eroded with Mr & Mrs Lloyds complaint to the Financial Ombudsman Service. The complaint was unsuccessful and so was Mr & Mrs Lloyds attempts to secure a remortgage. Mr & Mrs Lloyd has significant equity in the property, the majority of which would have been lost if the property was sold under forced sale by The Woolwich.

Mr & Mrs Lloyd put the property on the market, but were refused by The Woolwich to have sufficient time to enable a sale on the property. The Woolwich instead applied to the court, obtained a 28 day possession order and had applied for eviction.

We had to get Mr & Mrs Lloyd into court to defend the eviction order, for which we used an N244 application, and we secured a hearing to put a defence across to a District Judge.

The case was successful and we gained Mr & Mrs Lloyd a period of a further 5 months in which to find a buyer and complete on the sale of the property.

Mr & Mrs Lloyd found a buyer 3 weeks later and the sale was complete within 3 months us preventing them from being evicted.

The law that supports the sale of the property is very different from the law that supports affordability on a mortgage, and needs to be thoroughly understood before making an application to the court. If you are having trouble with your lender, please get in touch with us immediately.

Contact us if you require expert advice and need to stop repossession of your home.