Mortgage Lender Takes Court

First things first – when would this happen? This would probably happen if your mortgage arrears and then there is trouble clearing it off. Your mortgage lender will then begin court proceedings. This can be really stressful – and if you’re in that position don’t panic! You can stop this happening, but you have to fast about it. Remember negotiating is the key. Try and sort out things between you are your lender – talk to them and try and make them understand the reasons you may have not been able to pay. Also set out deadlines for your payments in the future – be positive and you’ll see the difference it makes. You can also get free advice on this from citizen’s advice. If things have escalated from there, and your lender has already begun proceedings there is a reason to worry – but remember you can always look to negotiate, despite that. That is probably the best route to take. But if you think that negotiating with them is out of question then don’t attempt it. Instead, if you think they are not following procedure properly or are being too harsh or unfair you could argue for that in court. This will work in delaying he proceedings and even get the court to grant you a suspended possession order – which means you’ll be allowed to stay in your home as long as you agree to pay off the arrears. In comparison an ‘outright order’ will mean that you need to leave you home and you will lose possession of it. Before your lender takes to court they have to go through many procedures – on of which is that they have to inform you about your legal rights. They also have to provide you with all the facts and figures that you may need. Such as the amount you owe them – in arrears. also how much is left to pay for your mortgage, and also the interest rates (whether added or taken away).If you make an offer to pay your arrears, your lender should respond to you and should not begin further court proceedings. They should respond to you, and if they don’t should give you a valid reason for their silence in writing, within 10 days. There are others ways to get your lender to delay court proceedings, such as applying to your local council for help under the mortgage rescue scheme. If in doubt, seek legal advice. If you find you need any advice around housing or simply want to know more, don’t hesitate to call our team on: 0116 2999 199 or alternatively you can email us at: info@d-w-s.co.uk