Mortgage arrears and repossession
Repossession is a last resort for lenders too. Early contact changes the outcome more than anything else.
Talk to the lender first
Lenders must consider reasonable proposals before starting court action: a payment arrangement, a term extension, a temporary interest-only period, or capitalising the arrears.
If a hearing is listed
Go to it. Courts can suspend a possession order where you can show a realistic plan to clear the arrears alongside the normal payment. Free advice services can attend with you.
How other debts fit in
Getting unsecured debts into a formal plan frees up money for the mortgage. That is often the single most effective step for someone in arrears.
Want to know which routes are open to you?
Four questions and a shortlist. No calls unless you ask for one.
Check my optionsMay not be suitable in all circumstances. Fees apply and your credit rating may be affected. Arcadia is an information service — always consider free, independent advice before deciding.