St Genix Property Buyers

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Property Repossession

The Process Explained

Losing your home through a property repossession can be the most traumatic experience you ever have to face. It’s important to understand that repossession means you lose your house and access to all payments you have made to date.

Even if you have received a Possession Warrant or Eviction Notice, and you are unable to pay, we can still help you. Before you call us, you will need to understand why lenders take proceedings against you and be able to identify where you are in the process of repossession.

Payment Reminder

House Repossession

Your lender wants to ensure the relationship you share remains healthy, and most will appoint their internal Arrears Collection Unit to contact you when they see you have missed a payment. Certainly after two payments, you will receive a call from them. Some may prefer to send letters to their clients. This is an opportunity for you to pay any arrears or make an arrangement to catch up as soon as you can.

Solicitor’s Letter

When your arrears remain unpaid or you ignore any calls from your lender, they will forward your case to their solicitor. A solicitor’s letter will demand that you make full payment immediately and will warn you that your home may be repossessed if you fail to take action. At this point, you must contact the solicitor to see if a plan can be arranged to repay the accumulated arrears.

Property Repossession Proceedings

The next step is for the solicitor to issue property repossession proceedings with the County Court. The Court will receive details of your arrears and will set a date for a hearing, which you ought to attend. For detailed assistance with this step, read our guidelines on How to get prepared for the hearing.

Court Order

There are a number of outcomes that can result from a house repossession hearing:

Adjourn – If you fail to appear or there is further information that needs to be received before a ruling can be made, the Court will set a new appointment for the additional hearing.

Dismiss or Indefinite Adjourn – This normally only happens if you have made a complete repayment of the arrears before the Court hearing.

Possession Order – Following a period of 28 days your lender has the right to repossess your house. If this happens, you will be evicted and unable to recoup any of your mortgage payments. At this point we can still help you by purchasing your property quickly.

Suspended Possession Order – You pay the current monthly mortgage instalment and agree to a plan for repayment of the arrears. The Court will readily grant this order if you assure your cooperation. This gives you a second chance and provides the lender with security. If you default on this order, your lender has the direct and instant right to gain possession by a Possession Warrant (explained below).

Possession Warrant (Notice of Eviction) – Defaulting on a Suspended Possession Order or remaining in the property after the notice period of the Possession Order has passed is grounds for the lender to apply to the County Court for a formal eviction. The Court will give you a date and exact time by which you must vacate the premises. At the appointed time the County Court Bailiff and a lender’s representative will be present with a locksmith to procure possession of your property. If you call us before this occurs we are still able to help you.

Sell House Fast Hotline: 0208 144 1070