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MSE News: Repossession loophole to be closed by Government

This is the discussion thread for the following MSE News Story:

"Lenders will no longer be able to repossess people's homes without going to court, under plans unveiled today ..."

Comments

  • fatbelly
    fatbelly Posts: 23,071 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Cashback Cashier
    I noted that the story went on to quote that 33000 people had been helped by the help at court scheme but it did not give figures for the MRS schemes or the HMS scheme.

    I wonder why not?
  • I am glad to hear that the Government are tightening up the law in this area although, in the case quoted, it does seem the borrower was acting rather stupidly in breaking the terms of the mortgage and giving the lender "carte blanche" to do as they please.
    I would also like to see the law very much toughened up in terms of leasehold property. At the moment the freeholder is not EVEN obliged to send final financial demands by registered post before they can start seizing a property under forfeiture and, as a lot of flats have shared letterboxes, this is crazy. Even if it does go to court you will have the expense of representation when you can least afford it. Also, living in such a block of flats, I know that I have actually had my post stolen by another leaseholder who didn't want me to find out about planned alterations by the freeholder before it happened because she knew I would object. These things can happen and do. MPs should wake up and smell their freebie coffees.
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