Payment Reminders

Your lender will inform you in writing once you have missed a payment, confirming that your account has now gone into arrears. At this point it is vital that you contact your lender, taking a note of when you called and who you spoke to, explaining why you have missed your payment and confirm this to your lender in writing; this may be useful later if you have to go to court. You are still in a position at this point to stop repossession happening by explaining why you were unable to pay and you can ask to either

• arrange a payment to clear the arrears in full

Or

• arrange for you to make over payments over the course of a couple of months

If you don’t contact your lender and don’t pay the arrears and don’t pay your next months mortgage then your lender will hand your case to their solicitors and commence legal proceedings. This is the start of the repossession process; you will receive another letter confirming to you, that your lender has now started applying for possession of your home via a court order.

It’s still not too late to arrange payment with your lender at this point, but you are still in danger of losing your home if you don’t act quickly.

click here to return to the Repossession Process

Contact us or apply online and see how Quick Purchase can help.