www.iva.co.uk

Hi,at what stage or limit would a mortgage company start repossession for arrears of £350? My husband lost his job and in January I negotiated a reduced payment of £400 with my mortgage company, however since then and up until then we have always paid our full mortgage payment, last month i paid an extra £50, and have written a letter offering an extra £100 per month until the arrears are paid off do you think this will be acceptable, my mortgage payment is £1050 a month.

You mortgage company cannot start repossession proceedings against you until three mortgage payments have been missed. You seem to be a fair way off that right now, but the trick is to keep your mortgage company advised if you are struggling. They will generally be grateful to you for this, and are likely to work with you.

Thank you Melanie for your advice, as you can see I haven't actually missed any payments and not likely to, so i should be ok!