Repossession Advice

craigmc

Hi All

We have some arrears with SPML on a mortgage, they have issued court docs for a hearing on 3rd july.


basically, we have decided to sell up. and have estate agents coming round tomorrow to value, we will then make a decision and instruct an agent by close of play tomorrow.

Since April after I sent an offer letter, I have been paying the offer amount. They then agreed, after I'd already sent the payment in April (which showed commitment)

I guess my question is, how will this be viewed. Obviously we are making overpayments to clear arrears but are also putting house on market?

thanks
craig

brainfreeze

It's many years since I was in court for repossession hearing on my home (early 1990's) we took all the documents to show the court we were trying and had stuck to the agreement to make reductions (albeit very small) in the arrears and the court didn't award repossession to the BSociety. They didn't even let the BSociety have costs as they said it was unreasonable of them to bring it to court as we were clearly making every attempt. (In our case it was a magistrates court and we just sat across a table...not like a real court at all)

Mind you this was over 15 years ago.

I think as long as you show that you are trying, and putting the house on the market as well as paying as per as agreement definitely shows you are - then the court should view your case sympathetically and give you time to deal with it...but that's not 100% guaranteed.

Maybe if you speak to the mortgage company and advise them it is on the market they well may defer the court action - always worth asking.

More importantly - are you going to be able to sort out housing once the current house is sold?

Whatever happens, good luck and don't fret too much over it. I worried myself sick when we had the court date...and it was nowhere near as bad as I though it was going to be. Whatever the outcome if it does go to court, you have already decided to sell and with a bit of luck you may have a buyer before then.

moonlightpjs

Our mortgage is also with SPML and we had a repossession hearing but as we were paying an amount off the arrears and could commit to continue doing so they said they would only ask for a suspended possession order, meaning that as long as we made the overpayments nothing would be done, but if we missed an overpayment then repossession proceedings then would start. The judge also told me husband that if we had any problems in the future (because my husband has an illness that can reaccur)we just had to make an application to see the judge and he would help us sort something out with SMPL. I think if you are selling up then the judge will probably order a suspended repossession as you are obvioulsy trying to sell your house and clear the mortgage.

Good luck