How can I stop my mortgage lender from repossessing my house?

Writing by Diane on Monday 25 February 2008

Debt Question of the Week

Stopping a mortgage lender repossessing your house

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1) First of all you need to establish whether you have a surplus income to offer towards the mortgage arrears.

2) Complete an Income and Expenditure, listing all essential household costs such as normal mortgage payments, utilities, transport costs, housekeeping, medical/dental, clothes/shoes, hairdressing etc.

3) If there is a surplus income left over, offer a reasonable proportion of this to the arrears.

4) You will need to attend the Repossession Hearing at the Court, present the financial statement and if possible, take your first payment of money towards the arrears with you. This shows the Court that you have every intention of keeping to the payments and of your desire to keep your home.

5) It is vital that you make an offer that you can realistically maintain. Don’t offer more than you can afford otherwise you could find it hard to meet the arrears payments and if you fail to keep up with the payments the Court can grant the Repossession and a date would be set for your eviction.

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