By Jonathan Gardner

If your house is repossessed, do you keep your equity? Another question that comes up often is “if my house is repossessed, do I keep my equity?” When your house is repossessed due to mortgage arrears, the lender will typically sell the property to recover the outstanding loan balance. However, if the sale of the […]

How many months mortgage arrears before repossession? In the UK, there is no fixed number of months in mortgage arrears that automatically triggers a home repossession. However, most lenders begin to consider repossession after several missed payments, typically three to six months. The exact timeline varies depending on the lender’s policies and the individual circumstances

What If I Can’t Pay Off My Interest-Only Mortgage? If you have an interest-only mortgage and are approaching the end of the term without the funds to pay off the balance, you’re not alone. Many homeowners in the UK face this challenging situation, but there are steps you can take to manage the problem and

How long do I have before my home gets repossessed? A question that always pops up when talking to people that come through our website is “What is the timeline for home repossession?” The answer can vary based on the circumstances and how lenders handle the process. However, there is a general outline of how

Is renting your home an option whilst in mortgage arrears? Mortgage arrears can make the pressure of keeping up with payments while managing other financial responsibilities really overwhelming. However, there are several strategies to consider that might help ease the pain, one of which is renting out your property. Obviously this can only be an

UK mortgage rate forecast 2024 The UK mortgage market is currently buzzing with activity as lenders compete to lower interest rates amid speculation that the Bank of England (BoE) will reduce the base interest rate on 1st August. This potential cut follows a prolonged period of high rates aimed at curbing inflation, which has now

Who gets the house when couples split up? When couples decide to separate, one of the most challenging aspects to address is the family home. The situation can quickly become emotionally charged, especially when both parties are still on the mortgage and the title deeds. However, there are several options and pieces of guidance that

Repossession order from court? Facing a home repossession hearing can be an intimidating experience however, being well-prepared can make a significant difference in the outcome. Here are some key benefits of arriving at your hearing with everything in order: Preparation builds confidence and walking into a courtroom knowing you have all the necessary documents, evidence

Sometimes it’s just best to sell up and move on. Yesterday I had a conversation with a landlord who is at risk of losing his rental property due to mortgage arrears, caused by his student tenants not paying their rent…at all!! Naturally, his lender showed concern and was quite sympathetic to his situation, but as

Navigating a Difficult Mortgage Situation I had a recent conversation with a prospective client who was dealing with the imminent threat of repossession, making it a harrowing experience for her. The home in question holds significant sentimental value and is a place of refuge for her family and happens to be her late grandfather’s home.