Repossessions are granted only with the court’s permission. This occurs when the existing owner cannot pay the required payments towards the property and the court allows the lender to evict the tenant and sell the property, if they wish to do so. These proceedings can be very difficult and it is important to seek legal advice as soon as possible.
Before the lender can issue a repossession order, they must go through several various procedures such as:
- Informing you of how much you owe;
- Respond to any payment offer you make;
- Respond within 10 days with reasons behind turning down the offer;
- Provide you with 15 days’ notice in writing that they plan to start court action; and
- Provide you with the date and time of the hearing.
If the lender starts repossession action against you, you will be issued with a blank defence form by the court. You will have 14 days to respond explain why you think your home should not be repossessed.
On the day of the court hearing you should bring as much evidence of finances as possible. This can include:
- Job offers;
- Bank statements; and
- Any benefits letters.
At Bloomsbury Law, we understand this may be a very difficult and stressful process for those individuals who are worried about the prospect of losing their home. Even though court proceedings are underway, you still have the ability to keep your home. This is why it is crucial to seek legal advice as soon as possible.
If you require advice on home repossessions, please get in contact with our specialist team. We have years of experience in the industry and look forward to listening to your situation so we can advise you accordingly.
What do I do next?
Contact us online or speak to one of our experienced property lawyers on 0207 998 7777 for a free initial consultation. With our vast experience in the field, our team will work with you to ensure this process runs as smooth as possible. All information you provide us with is treated with the utmost confidentiality.
We will contact you no later than the next working day to arrange a meeting at our offices in London W1 to advise on the agreement.