HSBC Suspended Possession Order

Will_Silver

Can somebody please point me in the right direction?

We have two accounts with HSBC which we got into arrears with, when the business went into administration in June 2009.

Various letters and correspondence transpired until we ended up in the following situation.

28.09.11 HM Courts & Tribunals Service, ****** County Court
Order for possession (Mortgaged Premise) (suspended)
On the 26.09.11 at ***** County Court

This order has been made on discretionary grounds and the court orders that
1) The defendant give the claimant possession of ***** on or before 24.10.11
2) This order is not to be enforced so long as the defendant pays the claimant the unpaid instalments under the mortgage of ****, by the payments set out below in addition to the current instalments under the mortgage.
3) Payment required £534.00 per month, the first instalment to be paid on or before 01.10.11

07.10.11 Letter from Shoosmiths acting on behalf of HSBC, at the hearing on 26.09.11 the Judge granted an order for possession suspended on payments of your monthly instalment plus £534.00 per month towards the arrears.

According to Mortgage A, HomeOwner Loan the balance outstanding @ 31.01.13 is £36,959.51, based on your original offer document the remaining term of your loan is 7 years and 3 months.
Which would mean 87 payments of £424.83; I am currently paying £685.01 per month (Mortgage plus arrears)

According to Mortgage B, HomeOwner Loan the balance outstanding @ 19.03.13 is £4,166.45, based on your original offer document the remaining term of your loan is 7 months.
Which would mean 7 payments of £595.20, I am currently paying £700.47 per month (Mortgage plus arrears), I am not too bothered about this one, as that would see me paying that off a month earlier.

Because I am ahead of the repayments based on the terms for each loan, does that mean I am no longer in arrears, I must admit I am not sure what the arrears figure finally was but based on what I have said would have hoped so, would it be best to write to HSBC and ask them for clarification.

We have paid the Mortgages plus arrears without fail since October 2011, I just need to know what I can do now to remove the threat of the suspended possession order and get back to what I should be paying, based on the remaining terms of the loans, do I go back to the solicitors Shoosmiths, HSBC, The Court or all of them.

If there are any questions then please ask, I have tried to keep it brief, but with as much information as possible, thanks for reading.

Thrugelmir

Will_Silver wrote: »

Because I am ahead of the repayments based on the terms for each loan, does that mean I am no longer in arrears,

The question is have you cleared your arrears, i.e. brought the account back up todate. Future as yet unmade payments are of no consequence.

This order is not to be enforced so long as the defendant pays the claimant the unpaid instalments under the mortgage of ****,

Have you paid this amount in addition to your standard mortgage payments yet?

holly_hobby

Well only your lender can accurately tell you this, indeed they should be sending you statements (at least on an annual basis).

I would write to them asking for a breakdown and clarification as to the current os arrears balance (provide a written request, as you want a written response for your own records and audit trail).

But in a nutshell the suspended possession order will reamin in situ, until the original terms of defualt have been satisfactorily remedied.

Contact your lender, if their response raises issues, then come back here, or of course contact your legal adviser for assistance.

Hope this helps

Holly

Will_Silver

Thank-you both for such quick replies, I will start with HSBC and seek clarification of the outstanding arrears on the accounts and as to when they see the SPO being satisfied. Looking at the figures I think I have two more months of arrears, but i will do the above just to make sure.

Thrugelmir

Will_Silver wrote: »

Thank-you both for such quick replies, I will start with HSBC and seek clarification of the outstanding arrears on the accounts and as to when they see the SPO being satisfied. Looking at the figures I think I have two more months of arrears, but i will do the above just to make sure.

You should feel pleased with yourself for tackling the matter head on. :beer:

Will_Silver

Sent a letter to HSBC 2nd April asking for arrears details, where i was with SPO and what I needed to do with regards payments going forwards once the arrears had been cleared.
Guess what, yesterday 18th April received a letter, for a Redemption Quotation, idiots!!!
Called and asked them to send me what I had asked for in the first place, I will wait and see.