problems with kensington mortgages

[mike1982]

Hi, everybody.

Been searching the net in hope of helping my mum and dad. They have fallen behind on mortgage payments with kensington. They have two loans with kensington 1 is getting paid fine but one is behind by about £5,000.

They cannot meet the demands Kensington want at the moment as my mum is classed as blind. and my dad got run over last year and has been out of work. They went to the cab today who have told my mum and dad to go for straight re-possession meaning we have 56days to find a way out.

I have a current mortgage offer going through on the house but think it is likely to take longer than the 56 days we have been told to go for in court on monday.

I hope i have highlighted the problems any advice would be gratefully appreicated

[sequenci]

If you have evidence of this you can apply to the court for a Suspended Possession Order on the grounds that you will be taking over the mortgage in due course, this means that the current lender will be paid very soon indeed.

[mike1982]

thanks sequenci. I have all the papers here to prove its currently going through. We told the cab this morning and they were happy to go for a suspened possession order. But two hours later they rang us and said they think we should go for a full possession order as they think we will be paying too much interest while we await the mortgage to go through. Any advice?

[Ell-enn]

Hi there, Sequenci is right - you can take a Statement to court with you on Monday together with your evidence of purchasing the property - also your mum and dad's state of health. If you need help with writing the statement please let me know and I'll draft one for you.

Kind Regards

Ell-enn

[mike1982]

Hi Ell-enn if you could draft a statement so i know what to tell my mum and dad, i would be very gratefull to you, am not sure what to put and my mum and dad are not really sure either.

Thankyou for you kind help.

[sequenci]

Originally Posted by mike1982

Any advice?

Sure,

Is the new mortgage affordable?

Have a go at completing a budget sheet:

National Debtline England & Wales | Personal Budget Sheet

Remember to factor in figures for road tax, maintenance, servicing, MOT etc in the travel section of you drive. Be realistic with your figures. Can you then meet the mortgage payment?

Remember that there is a strong likelihood that property prices will continue to fall, will the takeover be worth it? One thing to consider is that *if* the property is repossessed it is VERY likely to be sold at auction unless you ask the court for time to sell it yourself.