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Posted: Wed Sep 26, 2007 2:43 pm
by madbean
Can you help me with the reposstion of my house?
Posted: Wed Sep 26, 2007 2:47 pm
by mikebdomain
Hi madbean and welcome to the forum
What stage are you at with the repossession?
Have you been for the initial court hearing yet?
How many payments have you missed?
Are you currently in an IVA?
Is there any equity in your property?
FREE ADVICE IS THE BEST ADVICE
LEYBRIDGE LIMITED
Mortgage Broker
Specialising in adverse credit.
see feedback and testimonials at:
http://www.leybridge.com/testimonial.php
Check out my blog at:
http://mikebdomain.blogs.iva.co.uk/
Please read our Initial Disclosure Document(IDD):
http://www.leybridge.com/Leybridge-IDD.pdf
Posted: Wed Sep 26, 2007 3:02 pm
by ray_a
Please do come back as I had a similar problem and can assist!
Posted: Wed Sep 26, 2007 4:00 pm
by madbean
ive just receved a court date today.
ive missed about 5months.
ive got no equity in property due to a surcure lone.
and no iam not in a iva
Posted: Wed Sep 26, 2007 4:08 pm
by mikebdomain
At this moment in time it is VERY difficult to find a mortgage product whereas you will be able to remortgage away from your current lender – especially where a loan to value of over 75% is required.
If this is your first court hearing;
Make an offer to over pay your mortgage and request a suspended repossession order.
Whilst you keep up with your over payments you will not be bothered by the lender, trouble is you miss another payment the lender will be able to re-instate repossession proceedings without going back to court.
FREE ADVICE IS THE BEST ADVICE
LEYBRIDGE LIMITED
Mortgage Broker
Specialising in adverse credit.
see feedback and testimonials at:
http://www.leybridge.com/testimonial.php
Check out my blog at:
http://mikebdomain.blogs.iva.co.uk/
Please read our Initial Disclosure Document(IDD):
http://www.leybridge.com/Leybridge-IDD.pdf
Posted: Thu Sep 27, 2007 3:00 pm
by ray_a
Hi Mad Bean
Agree with Mike's advice.
Firstly talk to the lender and they might ask you to talk to their solicitor. Do talk to them and actually if you talk you will find they are responsive.
Secondly, make an offer you can pay and keep. Do talk to the lender before the hearing as it helps to get things sorted out.
Thirdly, go to court and it helps to write down what you want to say. The Judge is usually sympathetic and will explain what is going on! Also ask for a suspended order!
Fourthly, Get a budget together and make sure your mortgage is paid first with the arrears.
I found by talking I had built a relationship with my lender and it helped no end as one girl said to me selling an empty house is not the best way to sell a property but you do have to realise that they have the upper hand!
Do come back with any questions or requests for advice and please let us know how you are getting on!