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Kitty97
Posts: 9 Forumite
We had our repossession hearing adjourned due to the judge not being given our defence pack ahead of the hearing by court staff (!)
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Has there been a change of circumstances? Interest rates amongst other things are heading upwards. If you are struggling now the likelihood is that matters are unlikely to improve.0
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How many months in arrears are you?
Are you still making payments to the mortgage?
How many months will it take you to catch up?I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
You've a sizable amount of equity at your disposal and an income to support a smaller mortgage. If you were to downsize then lenders have a duty of care to assist. Though you may have burnt this bridge now.0
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You also need to understand lenders are also not a social charity and they are regulated lenders. You have a contractual obligation for repayments which hasn't been kept and they are within their right to take proceedings forward to repo after a certain amount of time.Kitty97 said:Whole point is we can’t move right now due to daughter’s condition and running the business from here. Complicated situation which lender is well aware of hence bearing with us thus far. Just asking that they work with us now that things are improving. Surely they have a duty of care to assist in this way-too late if they take our home and destroy our business.
4 years of arrears is an unusually long amount of time a lender has taken to cater to your situation. Alot get 1 year some less some a little more
For future readers, income protection policies would be useful for the husband if they were not able to work for health reasons
I wish you all the best, but going through a repo will be very expensive and into that equity, where as selling may have been an option earlier, which you didn't want to take."It is prudent when shopping for something important, not to limit yourself to Pound land/Estate Agents"
G_M/ Bowlhead99 RIP0 -
Since the OP appears to have removed / edited their posts I'm guessing they are no longer looking for suggestions, so I've removed my text from this post.
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What's the question?Kitty97 said:We had our repossession hearing adjourned due to the judge not being given our defence pack ahead of the hearing by court staff (!)Googling on your question might have been both quicker and easier, if you're only after simple facts rather than opinions!0
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