Home Repossession Questions and Answers
I've got a court hearing but I can't attend. What should I do?
Wherever possible, make every effort to attend. If you have a joint mortgage, only
one party need attend. Your home is at risk - so making yourself available is paramount
- If you absolutely cannot attend, set out your position in writing, and confirm
to the court what you would like to do.
Do I need a lawyer to attend Court?
No. You can get one, but they are expensive - typically £130-175 per hour + VAT.
This money is often better spent in an offer to repay the arrears. Some courts have
Debt Councillors available at repossession hearings (some Citizen's Advice Bureaus
provide this service) who can help. Ask the court usher upon arrival.
The Court has made an order for possession / eviction. Is there anything I can do?
Yes. You can contact A Quick Sale to see if we can structure a solution.
How quickly can Repossession be Stopped?
Depending upon the circumstances, we can stop repossession right up to the date
of eviction. However we strongly recommend that you contact us as soon as possible
so that we can examine your situation and try to put together a solution to save
your home.
If I hand back the keys - Is that the end of the matter?
No. The lender will sell the house. If there is a shortfall, the lender can recover
this from you for up to 12 years (5 years in Scotland). Also, you will be responsible
for ongoing mortgage interest payments until sale and all sale costs. This will
include locksmiths costs, solicitors fees on repossession and re-sale, surveyors
fees, estate agents fees and utility bills.
See
'Tips Following Repossession'
Will my credit rating be affected?
Yes. A County Court Judgment will be registered against you which will remain on
the Register of County Court Judgments for 6 years. The lender will also register
the repossession on the Council of Mortgage Lenders register which will make obtaining
a future mortgage very difficult
Do A Quick Sale make any charges for their service?
None, ever, guaranteed. If we are able to put forward a solution to save your home,
all the costs, including survey and legal fees are covered by ourselves
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Very efficient, helpful and quick to help solve problems. Very discreet service, and understanding.
Name withheld by request, Goole.
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