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NRAM repossession.advice needed.


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Hi after some advice please. We are planning to let our house be repossessed by NRAM after falling behind with payments to save for a rental property. NRAM agreed to let us pay a reduced monthly payment for three months which we did, we have now completely missed last months and have had a few phonecalls asking us to get in touch etc. but we haven't. Two weeks ago we recieved a letter from a solicitor/recoveries company acting on behalf of NRAM saying that we had fifteen days to respond and clear all the arrears or they expect to be instructed to issue possession proceedings against us. We thought we would have to miss three full payments before it was sent to a solicitor or is this what normally happens? If so, can anyone advise what the next stage is likely to be and how long its likely to be before we get repossessed?

Many Thanks.

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Hi

 

In that case, they will probably just look at it as 3 months total arrears etc and due to no contact etc may and probably will proceed with the possession claim procedure.

 

Useful CAB guide on what the procedure is below that should give the answers to the other questions you are asking..

 

http://mymoney.nedcab.org.uk/moneyadvice/mortgagearrears.asp

 

Just looking at what you have put so far I was just wondering if you have you considered all your options and possible implications of what you are doing?

 

Have you looked into the Mortgage Rescue Scheme for example? (useful link below)

 

http://www.direct.gov.uk/en/HomeAndCommunity/BuyingAndSellingYourHome/Mortgagesandrepossessions/DG_174005

 

Appreciate you may not want to put up further information but come back to us if you can as I am quite sure there are people on here who can guide and help you further

 

Best wishes

Edited by Wintry
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For op - just to add to your post

 

I am at the end of an NRAM repossession and we are awaiting the eviction date from the count court bailiff (we have a council property available soon) we stopped payments in Sept 11 to enforce a repossession as they discontinued support and would not authorise an IVA.

As for timescale after the 3 months it usually takes 5 weeks or so for a court date for repossession (if you dont attend auto repossession) after this NRAm apply for a warrant for repossession then a county court bailiff will set a date for repossession usually 14 days after the letter informing of the court issue of warrant letter.

 

hope this helps you

 

I just need advice on postponing eviction until our other property is ready.

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