Mortgage Arrears

Don't Let Them Take Your Property

The Repossession Stopper can help you to stop an impending eviction, whatever stage of the process you find yourself in:

If you have missed mortgage or loan repayments and fear repossession - We can help!
If you have received a court date, it is not too late! - However if you do not act quickly then you could find your home being repossessed!
• Even if you have been to court and have already handed over the keys to your home, as long as the property has not yet been sold then it is not too late to stop your repossession!

Mortgage Arrears

With today’s strict finance regulation, mortgage lenders are obliged by law to treat you fairly and take your adverse circumstances into account.

If you are currently experiencing difficulty in meeting your mortgage or secured loan repayments and you have mortgage arrears, it is vitally important that you initiate contact with your lender at the earliest possible stage.

If you have incurred mortgage arrears many mortgage lenders will view home repossession as the very last resort and will only consider starting proceedings once all other avenues have been explored.

It is crucially important that mortgage and secured loan repayments take the highest priority over any other debts. A secured lender can and will seek possession in the event of borrower default whereas credit such as store cards, credit cards and so on, are by the very nature ‘unsecured’. It is true to say that many unsecured creditors will take a more proactive stance once repayments start becoming missed – this is due on the main part to the fact that they do not hold security over your property.

Every mortgage lender will have procedures in place for tackling the issue of a borrower with mortgage arrears – they will on the most part be willing and able to make arrangements in the early stages such as:

• Extending the term of the mortgage in order to reduce the monthly repayments
• Allowing you to take a ‘payment holiday’.
• Increasing the monthly mortgage payment allowing you to clear the mortgage or loan arrears over a set period.
• Revert the mortgage from Capital Repayment to Interest Only (Where applicable)

If your mortgage lender contacts you regarding the mortgage arrears it is important not to ignore the letters and phone calls hoping that the problem will go away.

If you are currently considering switching lenders by way of a remortgage then the Repossession Stopper could assist you today. Simply tell us a little bit about your current situation by completing our short enquiry form and let us take action!