Anybody that has faced repossession or is facing repossession will know that this is a terrifying time for all of those involved, especially if you have a young family and have no one to turn to if all else fails.
Many people thing that repossession happens quickly and doesn’t follow any order or logic, but legally, there is a set procedure that must happen. If the correct procedure is not followed by all involved, then this will mean that it has not be done in the right manner and you might have a chance to appeal against any proceedings.
The steps of repossession usually follow the path below:
Most mortgage lenders will try to contact you and sort things out before you even come close to repossession. It is in their interest to try and keep you in the property and paying the mortgage, as normally they will not make as much as the property is worth if it were to go to auction. If you are finding difficulty in paying the mortgage, you must make sure that you inform your lender immediately, as most will try to help you and if you tell them first, this goes in your favour.
Should you not be able to communicate with the mortgage lender efficiently, they will then apply for possession from the court, and the court will then write to you with your date for the hearing. In most cases you will be given around 21 days to prepare for court, so the date will normally be 21 days after you receive the letter from the court. A form will be enclosed which will explain the reasons that your mortgage lender has applied for possession of your property.
They will also send you a form which you can use to raise a defence against the claim for possession, which is the opportunity for you to explain why you got into difficulty, the reasons behind not being able to pay your mortgage and any other circumstance that might have lead to you being in the current situation that you are in. Make sure you keep copies of every thing and you must try your hardest to get this form back to the court as quickly as possible, as once again, if you communicate openly and efficiently this will all be taken into consideration.
You will then attend the court hearing, it’s vital that you do, and you will then be able to offer your case to the judge in charge of the hearing.