Private Homes & Repossession

Privately owned homes are more often than not subject to a mortgage of some kind and if the monthly installments are not kept up your lender is entitled to ask for the property to be re-possessed. It is advisable that if you get into a position that you cannot afford to repay the monthly installments that you contact your lender immediately.

Most Mortgage providers recommend you take out mortgage protection insurance and you should check to see if you have a policy and that you will be covered. However most policies only deal with redundancy and will exclude leaving work because of divorce or separation.

If you are unable to work you may be able to get assistance from the Benefits Agency to repay the interest on the mortgage. This will depend on the type of mortgage you have and whether you are eligible. You should contact your local Benefits Agency for details.

Not all your mortgage will be paid and you will have to wait up to 16 weeks in some cases before they will start paying.

If your lender does bring proceedings all is not lost because the Court will normally except, the normal repayments together with a contribution towards any arrears over the remaining term of the mortgage.

You should contact your local Citizens advice bureau if this happens.

Legal Help and Assistance may be available to advise you from a Solicitor, but they will not be covered for going to court

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Information on this page is current and last updated: 12/03/2008

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