Understanding repossession laws

If you have a mortgage on your home and are experiencing problems keeping up your repayments, repossession laws come into play. You should consult a repossession lawyer as soon as you get into financial troubles. You should note that your mortgage lender is bound by repossession laws to follow a set procedure laid down in law that is called the ‘pre-action protocol’. If your lender does not follow these protocols you could take them to court under repossession laws.

Compulsory pre-action procedures

Under repossession laws your mortgage lender must follow these steps before moving to repossess your home:

Consider any request you make to make changes to your mortgage repayments
Consider any offer you make to pay off any arrears you may have
Give you complete and detailed information about what you owe and any charges you are liable to pay
Give reasons for turning down any offer you make within 15 working days

The next steps

Repossession laws also take into consideration any mortgage protection insurance you may have. Your lender must give you time to make a claim if you have this type of insurance. Get your repossession lawyer to advise you on claiming on this.

If you feel that your mortgage lender has treated you unfairly, you have the right under repossession laws to make a complaint to the Financial Services Ombudsman (FSO). No further action will be taken against you while an investigation is ongoing by the FSO. You should get legal advice from a repossession lawyer before making a complaint, and get your repossession lawyer to write the complaint for you.

How Contact Law can help

If you have any queries about any of the repossession laws, Contact Law will be able to match you to a repossession lawyer. A repossession lawyer will be able to help you with any negotiations with your mortgage lender, the FSO and any other organisation that becomes involved in your possible repossession. Don’t delay, as a repossession lawyer can help and support you, as well as interpret all the current repossession laws as they relate to your case.

If you would like to obtain legal advice about repossession, Contact Law can put you in touch with a local specialist property / repossession lawyer free of charge. Please call us on 0800 157 7566 or complete the web-form above.