Unity Homeloans to Kensington mortgages - Suspended Possession - HELP

[Killerschick]

Firstly I would recommend going to a CAB or law centre for advice, assistance and possibly representation at Court.

However, if you want to do this one your own when you receive a Warrant make an application to suspend it using an N244 (available on the Court Service website: http://www.hmcourts-service.gov.uk/courtfinder/forms/n244_0400.pdf or from the Court office). Explain why you have not maintained payments under the existing order (£450 per month is incredibly high when your mortgage payment is only £700), give details of your new proposal and support this with a financial statement (the BBA/MAT one is particularly good hopefully this will link you to it: BBA - British Bankers' Association - Error - Page Not Found to show you can afford the payments. Make sure your proposal is realistic and don't be pressured into increasing it by the mortgage company it is better to get a low order and overpay than agree to the absolute maximum you can afford.

Bear in mind that the law (through the case of Norgan v C&G) says you have up to the remaining term of the mortgage to repay your arrears. Say your remaining mortgage term was 10 years (120 months) you would need to pay £45 per month on £5400, over 20 years £22.50 etc. That is the minimum the court are likely to accept so I wouldn't propose that little unless it is really all you can afford.

[Killerschick]

If it's a first suspension and you can prove your offer is affordable then your chances are very good. Equity in the property is also a positive as it shows the judge the mortgage lender is not at much risk. The Courts don't want to evict people who can repay their arrears in a reasonable period.

Even £250 a month is a lot - you'd be clearing the arrears in less than 2 years. Bear in mind what might happen if you had an unexpected expense and factor this in when making your calculation, the financial statement is quite detailed and should prompt you to think about expenses that don't happen every month like car tax.

[Killerschick]

In reply to ascint57

It would be very unusual for a Court to grant a suspended order with no arrears, are you sure the hearing was not adjourned?

If arrears are cleared before a hearing it's normally adjourned for a specific period at the request of the lender. The period is normally one year, so if you fall into arrears again in that year they simply reinstate the hearing and provide an up to date statement of account rather than issuing proceedings from scratch. If the hearing was adjourned there is little you can do about this unless the lender should not have issued in the first place i.e. you were never actually in arrears. It doesn't sound as though that is the case here.

If an order was granted you might have grounds to have it set aside and I would recommend seeking advice from a CAB.

 

To Hedgehog0045

Whilst CAB Court advisers are often more experienced with Court work than those you find in branch, they may be hampered by lack of access to resources, books, internet, CAB systems etc as they are at a remote location (it all depends what the individual Court provides them with).

Make sure you take all your paperwork with you, preferably in some sort of order! And bear in mind you may have to wait as they will give priority to people with a hearing on the day. As you will be at the Court you should be able to get any forms you need quite easily and submit an application if appropriate.

[Killerschick]

If no date has been set the Court will normally accept an application by the lender to reinstate the hearing for up to a year. After this, the Court would expect fresh proceedings to be issued even if it wasn't specified on the order.

It's not that bad, no order has been granted and if you do fall into arrears in future there will still have to be a hearing giving you your opportunity to have your say and put proposals forward.

 

Regards