Hello

Needing some assistance re mortgage arrears and threat of repossession.

The mortgage in question is with Halifax (interest only). I should mention that I am trying to help out my aunt who lives abroad.

Having decided to move overseas, my aunt left her property under a letting agency. The bank were aware of the property being rented. Due to poor management of the letting agent, monies were not received in a timely manner and eventually mortgage arrears mounted. To cut a log story short, the property is now under a new estate agent and things are steadily getting better.

The mortgage arrears are just over £500 and another payment due shortly. By the end of this month its likely the arrears will be close to £1000. I know this is not an overly large amount, but my aunt is not working and not in a position to find this money.

Halifax have written and have indicated they will instruct solicitors to begin legal proceedings to repossess the property if any more payments are missed or if contact is not made.

I am aware that Halifax have applied late fees etc and other charges but possibly not enough wipe out the current debt. My main concern is to stop the repossession and wanting to know what is the best course of action?

I would be grateful for any suggestions.

Many thanks

MBK.

write to them exactly as you have here.

its always better to keep them in the loop

Thanks dx100uk.

the bank a letter.

Hopefully they will look at this case favourably and not look to repossess the property.

Apart from letters banks send, what other steps do they take to indicate they are in the process of repossession?

Are we likely to hear from solicitors?

Don't want to find that my attempts to reason with them is too late if they are already halfway to repossessing the property.

The plan is to clear the debt asap and keep all future payments up to date.

Thanks

MBK

If they instigate repossession...the process....

https://www.gov.uk/repossession/before-it-goes-to-court

Andy