a quick update, they were in court today and the bank have removed the threat of repossession and we have exchanged contracts and move on the 18th:whoo:

Ok thanks for your help

Good news we got the retention removed yesterday, though the solicitors are now closed for christmas typicall. Does anyone know if it is possible to exchange contracts before the 10% deposit has cleared? the reason i ask is they go back to court on the 3rd an solicitors open on the 2nd so it would be good if we could exchange before they go back to court

reading this on the gov.uk site on possession orders "Outright possession order This gives the lender a legal right to own your home on the date given in the order and is sometimes called an ‘order for possession’. This is usually 28 days after your court hearing. If you don’t leave your home by the date given in the order, your lender can ask the court to evict you" reading that(worst case scenario) we would have 28 days to push the sale through no?

ok cheers, if it wasnt for christmas we would complete before the 3rd of january

many thanks for the replies, i have one more question if they get given a possession order when they go back to court on January 3rd is it still possible for us to buy the house from them before the eviction date?

thanks for the welcome, some interesting stuff on here

ok thanks for the quick reply, apparently they have allot of equity tied up in the house which will clear the debt and leave them with a nice lump sum, they are keen to sell it to us rather than going down the repossession route as they get more money by selling it

Hello We are in the process of buying a house which is now under threat of repossession, the current owners have done an extension which has not had its final building regs sign off due to some minor work which needs completing and our mortgage company have now put a full retention on our offer until the building regs certificate is issued. The current owners had a repossession hearing on the 3rd of this month and have been told to come back again on the 3rd of next month for another hearing. After the hearing this month they have managed to borrow the money to get the building regs signed off which will be done this week. Due to Christmas being just round the corner and knowing how long our mortgage company will take to remove the retention from our mortgage offer ( upto 10 working days once they have received the certificate) this will take us past the 3rd of january when they have there next court hearing. once the retention has been removed we are all ready to exchange contracts though this will probably be after there next court hearing but only by a few days i imagine. So my question is how likely is it that the court will issue a repossession order as this is the second hearing? what is the likelihood of them taking into account that we are ready to exchange contracts? sorry for the long post and thanks in advance for your help Jamie

Hello i have been reading posts on here for a a week or so looking for a situation similar to mine but as yet couldn't find anything, it's in regards to buying a house that is under threat from repossession, anyway im off to find the right section to post in