Mortgage Express - Outright Repossession Order - help!

[Ell-enn]

I have heard that it could stay there till the end of the mortgage (unless you apply for it to be removed)

[dpac123]

I have been clear of arrears and up to date for 12 months - how do I apply to the court to have the repossession order removed?

[Ell-enn]

I believe you need an N244 form, but I will check it out.

[dpac123]

Thanks Ell-enn, would this kind of thing need a hearing or additional information to be provided, for example, evidence of payments made and most recent mortgage statement?

[Ell-enn]

You can ask for the order without a hearing and providing evidence of payments and mortgage statement would be good.

[dpac123]

Thanks Ell-enn - would I need to send a copy to Mortgage Express or just the court?

[Ell-enn]

Just take your application into the court (there is a fee of £100 to pay for this )- they will send a copy of your application to the lender.

[dpac123]

Just wanted to provide an update and get some further advice.

 

The arrears were repaid in Aug 2013 and we are up to date with payments - over the last 36 months about half of our payments have been on time, one time we were 10 days late (Aug 2015) and the rest have been one day late (only found out that bank transfers need to be paid before 6.30pm to clear same day). From Jan to Jul 2016 we were on time every month and due to late payment from a client, our end of August payment was paid on 2nd Sept.

 

Question - can/should we apply to have the outright repossession order lifted? Can they still enforce it with no arrears? If we apply to have it set aside, could the lender decide to enforce anyway?

 

Thanks, D

[Ell-enn]

Hi, firstly they cannot enforce the order if there are no arrears. Given you have a history of making late payments it's doubtful the lender would agree to lifting the suspended order. I suggest you wait until you have 12 months of completely up to date payments.

[dpac123]

Hi, firstly they cannot enforce the order if there are no arrears. Given you have a history of making late payments it's doubtful the lender would agree to lifting the suspended order. I suggest you wait until you have 12 months of completely up to date payments.

 

OK, all payments have been on time and fully up to date since Sept 2016. Should I apply to get the order lifted and what are the likely scenarios?

[Ell-enn]

Hi, you can apply to the court on an N244 form - it's expensive though, and no guarantee that the lender will agree to lift the suspended order

[dpac123]

It's currently an outright order - is it worth trying to get it suspended? Also, what kind of costs?

[Ell-enn]

Hi, I believe the cost of the N244 is now £250 - you can ask to have the order set aside given your good payment record. Would you be able to provide proof that you can afford the mortgage going forward ?

[dpac123]

I'm self-employed so net profits for 2016-17 don't adequately reflect my current income. I should have my accounts done in the next week or so and projections for 2017-18 are 10-20% higher. I'm also paying the mortgage at the start of the month rather than the end of the month, so I suppose that's a good sign. Would it be necessary to prove affordability?

[Ell-enn]

If you are to give the lender and the court some confidence that you won't slip back into arrears the moment the order is lifted then it's best to have some credible earnings information to show them.

[AndyOrch]

You cant make an application to lift a suspended possession order...the order has already been suspended ...and providing there are no arrears and 6 years has passed the claimant must get the courts permission to enforce the original order or reactivate it which they can only do if you fall back into arrears.

 

There is no authority to suggest an SPO can be discharged on clearance of the arrears.

 

Regards

 

Andy