Hi all. I'm writing as I have quite an unusual case and am looking to see if anyone has any advice on my best chances of success.
I've inherited a property from my deceased Mother through obtaining Letters of Administration.
Her mortgage lender took me to court without informing me of the date. I didn't get a summons from court either. The repossession hearing occurred on September 3rd and the Judge granted an Order for Repossession dated October 29th.
Since finding out about this I have found a solicitor who filed an appeal for me (the N244 form) and I now have an appeal hearing scheduled for November 8th.
Me and my Partner are currently in the process of a mortgage application and are nearing the final stages. But as is usual with these things I can't be sure that we will get the "final offer" by November 8th.
Also, the house has been up for sale on the market since Late August. However it is a Leasehold property and I do not currently have the funds to obtain Freehold. As there aren't many years left on the lease it's been very hard to find a buyer.
I am just wondering whether the Lender can apply for a Warrant of Possession before I even get to my November 8th court date. I am also wondering whether I would be allowed more time by the Judge to obtain a mortgage or sell the house. Or what else could happen at the court date.
The arrears currently stand at £8,500. The Lender has made me an offer, to freeze the mortgage for 90 days if I pay the £8,500 and two months mortgage upfront (£9,400 in total).
I am currently on Universal Credit and am looking hard for any job that has contracted hours in order to show the Judge that I can pay the mortgage + a portion of the arrears each month going forward until I either have obtained the mortgage, or sold the house.
I'll have £1,400 (mostly borrowed from friends) that I can offer on November 8th as an upfront payment. I'm hoping if I've found a permanent contract job with enough hours by then I can offer £450 for the mortgage payment per month. Plus, £350-£400 to go towards the arrears.
The only problem I can see is that the Lender has said numerous times they wouldn't let me pay the same mortgage terms as my Mother as it was her mortgage. Which is why I've already applied for a new mortgage. But it's just cutting so close to the court date, I don't think I'll have a "final offer" until the week after at the earliest.
My back-up plan, if it all goes wrong on November 8th, is to appeal the Warrant of Possession upon receiving an Eviction Date. I am hoping, if not by November 8th, then definitely by the time I get an eviction date I'll either have obtained a mortgage, made a sale on the house, or found a job with enough contracted hours to prove I can afford to pay them monthly for the time being. I'm wondering, how long after the Order for Repossession date does the Eviction Notice come?
The whole mortgage stands at £42,500. Arrears at £8,500. The house has been valued at £170,000. So there is a lot of equity in the property. However, I have been told by the Lenders Legal Team that if they successfully repossess I stand to earn nothing as it's my Mother's estate. (Even though I've gone through Letters of Administration) So I am willing to sell the house fast through some "webuyanyhome" site if I'm desperate.
Sorry for the long post. It's all very confusing. Thank you for taking the time to read.