Residential Mortgages - Commercial Mortgages - Bridging Loans - Secured Loans
Buy to Let Mortgages - Adverse Credit Mortgages - Mortgage Arrears

Mortgage Arrears & Mortgage Repossession

For many reasons including increasing rises in interest rates during 2007 and consumer over-spending there has been a rise in the number of mortgage arrears resulting in house repossession. The figures in the left hand table show the current level of house repossession compared to this time last year.

There are many stages of mortgage arrears that are listed below, click on the situation that closely matches yours for a guide of what you can and can't do. The most important action is to deal with the problem as soon as possible, the sooner you can foresee you are going to start missing mortgage payments the more options you will have and if you contact your current lender they are more likely to help come to an arrangement to deal with a hard time.

As an example, the main income earner may not be able to work due to an illness that they know they will get over in a few months so the amount of mortgage arrears will be limited to a few months. In this situation the lender may be willing to consolidate the mortgage arrears over the remaining term of the mortgage or come to an arrangement to make a small overpayment when you are back at work until the mortgage arrears are cleared.

The whole subject of mortgage arrears and house repossession plus our in-depth knowledge in this field has led us to create a complete web site dedicated to thsi subject. You may find enough information below and in the additional pages but if not you can go to our dedicated web site being http://www.repossessionadvicecentre.co.uk. Please click on the hyperlinks below for for information on the various stages of mortgage arrears and house repossession.

I can foresee I am going to fall into arrears in the near future

I have missed one or two mortgage payments

I am in arrears with my mortgage and my lender is threatening legal proceedings

I am not able to keep to the terms of my suspended repossession order

I have an eviction warrant and don't want to lose my house

I have been evicted from my home - what can I do?

Who can I sell my house to quickly rather than being repossessed?

Are there any catches with sell and rent back schemes?

What reasons do people fall into arrears on their mortgage?

What insurances can be taken out in the event I cannot work
and cannot pay my mortgage?

You may also want to download the following brochures from
the Financial Services Authority and the Citizens Advice Bureau.

Financial Services Authority guide on what to
do if you can't pay your mortgage.

Citizens Advice Bureau Advice Guide
on mortgage arrears and house repossession.