Mortgage Default vs CCJ

primillo

Hi

My mortgage account on my credit file shows a default registered in February 2011 which was when the repossession order took effect.

Before this I had a long history of arrears of 6 months, should I have been defaulted earlier or not?

Thanks in advance for any advice.

Tixy

According to the ICO guidelines for a mortgage

Consequently, a lender should file a default no later than six months after the date of a successful court application to proceed with possession unless

• the customer has made reasonable and agreed arrangements to repay,
• the lender can justify not filing a default on an exceptional basis. For example, the lender is fully informed of the circumstances and knows that payments will start again, or
• the loan has been included in a bankruptcy in which case the default should be filed in accordance with the guidance in paragraphs 47 – 48.

From https://forums.moneysavingexpert.com/discussion/3172602 (section 14)
So if the reposession was less than 6months after the court application then it is likely to be considered reasonable.