Hi I have received a letter re: possession order from Drydensfairfax today (not unexpected) for arrears of £3258.

The letter states that the order will become enforceable on 9/10/17 and that a money judgement for £92982 was also obtained.

The letter asks that I clear the arrears in full prior to this date

. If I am unable to clear the arrears, to forward proposals for clearance of the same within the next 7 days.

(I have no way of clearing these arrears).

Once the enforcement date had expired they will apply to the court for the issue of a Warrant of Possession.

The only way that action will be cancelled is on clearance of the arrears in full.

Should it be necessary to apply for enforcement,

you will be notified of the time and date of eviction direct from the court.

what happens next and what can I do to stop this.

Mortgage payments £550,

have recently been paying £600 with an additional £50 per week.

I cant afford any more than this.

Forgot to add that we have previously been in arrears, around 2 years ago, but borrowed money from family to clear it, which we are still paying back.

Cant go down this route again

Whom are stated as dryrots client on their letters???

Kensington Mortgage Company Limited

Did you attend the possession hearing?

No we didnt

We thought that this was just an application to reinstate the original order

So, is that it, our home is gone?

No, you're home isn't automatically gone - if you don't pay the arrears by 9th October the lender can apply for an eviction order however you can still apply to the court to have it stopped.

The first thing you need to do is write to Kensington making an offer of monthly payments to clear the arrears. If you have been paying an extra £100 per month plus £50 per week that seems an awful lot to me for arrears of just over 3,000. How much extra per month can you realistically afford?

Hi

.

Just to let you know this bunch Kensington have been fined £1.225m by the financial regulator

for treating borrowers who were in arrears unfairly.

.

Claim those charges back plus the interest and tell them not to add any more to the account.

.

There are a few news stories here you can get the info for a letter to send to them.

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http://news.bbc.co.uk/1/hi/business/8615870.stm

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http://www.fsa.gov.uk/pubs/final/kensington.pdf

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http://www.theguardian.com/money/2010/apr/12/fsa-kensington-mortgages-fine

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http://www.moneymarketing.co.uk/news-and-analysis/mortgages/fca-orders-kensington-to-change-unfair-mortgage-terms/2005762.article

http://www.mortgageintroducer.com/mortgages/236498/5/Industry_in_depth/Thousands_of_homeowners_set_for_big_mortgage_refunds.htm

http://www.consumeractiongroup.co.uk/forum/showthread.php?296108-Hot-news-for-anyone-who-has-suffered-mortgage-arrears-charges-irresponsible-lending-or-other-unfair-lender-conduct

I cant speak to them, tried that in the past

DX, i reckon they owe me thousands in arrears fees

Ell-enn, tbh this is really stretching us, like I said before we have been in arrears in the past and have borrowed money off family to stop action for which I am paying back 100.00 per month.

We could probaby afford realistically 600.00, we just felt pressured into the extra 50 per week.

I cant speak to them, tried that in the past

You don't need to speak to them, you write to them, that way if you do have to go to court you can show the judge you have tried to come to an arrangement with them but they haven't played ball - that will work in your favour.

I am away until Wednesday but I can draft a letter for you when I get back if you like ?

Thank you that would be fantastic. Can I assume that this is definitely going to court. And if so, what can I expect to happen?

you'll win easy.

have you got all the statements from day one?

Mortgage statements? No I havent

If they don't respond to your offer then you will have to apply to the court for a hearing in front of a judge to get your payment offer accepted. We can help you with all the paperwork for that. It's a shame that you didn't go to the possession hearing, the judge would almost certainly have accepted your offer and Kensington would have had to accept that decision. If you had found us before the hearing we would have been able to assist with your defence, but at least you found us now

I will pick this up on Wednesday when I'm back.

I am really worried that I will be homeless

I am terrified to be going to court

Mortgage statements? No I havent

send kennys an sar

DX is that for the arrears fee? Maybe I need to fight one battle at a time?

You may not have to, but if you do - it's nothing like what you'd think - not a courtroom like you see on TV etc, this is a civil court. The judge sits in a room at a table and you sit in front of him and he will read your defence ask a few questions and make his decision - 10 minutes max. We would guide you through it so try not to worry too much, judges won't take people's homes away if they can see you're able to pay.Y

You're right, fight to keep the roof over your head first and then we can deal with charges etc.

Thanks Ell-enn, I am able to pay, we are both working, and our 17 year old son has a part time job. my hubby has had a while out of work in the past, and playing catch up has really made us struggle. Look forward to hearing from you on Wed x

get the sar running its only one letter and a postal order

then you have the info running

then put it on the back boiler

it takes upto 40 days to come anyway.

hitting back will silence them as well.

OK, leave everything till Wednesday and then we'll get on the case.

Ok thanks so much both, I will.

but you are not terrified of being on the street with their outrageous charges added to the sale.

Get the SAR off, they have 40 days to provide the info.

In the meanwhile make the offer of additional payments and try and work out what fees have been added that you know of.

They arent allowed to add interest to a fee as it is not part of the loan.

Once they know that you know this the liklihood of a successful possession order is much reduced.

When you know the exact amount of all the unlawful fees and interest applied to your account that will most likely clear the arrears and knock a bit off the capital as well.

Court is really nothing to be afraid of if you have done some homework.

Doing nothing isnt an answer to any problem though

I am really worried that I will be homeless

 

I am terrified to be going to court

Thank you Eric, I have an interest only mortgage, so nothing will come off the capital? I will get the letter off tomorrow

I hate this company so much..

a few years ago we had compensation from the local authority for double glazing because a new bypass passed our property, but because they were in arrears with our mortgage, Kensington wouldn't authorise it, they wanted us to pay it off the mortgage

got any equity in the property?

If you have a decent amount then you can probably get an ordinary repayment mortgage elsewhere as long as you can pay the proposed monthly amount.

They will be quite strict on their lending because of your current situation.

Do you have a vehicle you are investing in to pay off the capital at the end of the mortgage term?

What was said to you when you took out the mortgage and who by

- a broker or directly though them.

You might have a good claim for being missold the mortgage product and that will allow you to get away from these bandits a lot easier if the ombudsman finds in your favour and the broker may well just owe you a small fortune

Hi - can you please fill in the affixed budget sheet which we will send with your letter. Please let me know when you have done it. The sheet automatically calculates as you fill it in so you can adjust as necessary.

Budget Sheet.xls