Mortgage Arrears?
3 August 2011
During 2010, in North and West Yorkshire, there were 4,590 claims made by mortgage lenders wanting to repossess homeowners properties because of mortgage arrears. Less than you might have thought, perhaps, and certainly fewer than a couple of years earlier when repossessions hit a peak. However, were you aware that many of those repossession claims result in suspended possession orders, with the homeowner remaining in the property and paying an amount off the arrears each month?
Statistics released by the Ministry of Justice¹ show that, during 2010, more than half (55%) of all possession claims made by mortgage lenders resulted in an outright order being made, giving possession of the property back to the lender. In North and West Yorkshire that means that around 2525 homeowners will have been given an outright possession order and may well have lost their home.
Keyhouse, a charity providing free and independent housing, money and benefit advice, runs the Duty Housing Advice Service in York, Scarborough, Bridlington, Bradford, Keighley and Skipton County Courts on housing repossession days. The experienced and knowledgeable advisers are there to assist anyone who has a court hearing for repossession of their property and the service is free, being funded by Legal Services Commission.
Keyhouse statistics show that when they have assisted a homeowner who is appearing in court to defend repossession action, in 4 out of 5 cases (80%) the homeowner is given a suspended possession order on condition that they pay the mortgage and an amount off the arrears each month. This may not have been the case if they hadn’t attended the hearing and clearly shows that it is always best to turn up at court.
So, if you do get papers from the court summoning you to attend a repossession hearing, please contact Keyhouse as soon as possible to get advice about your options. Failing that, make sure that you turn up for your hearing, bringing with you proof of your income to show the District Judge that you can afford to pay the mortgage plus an amount off the arrears each month. Our friendly advisers can then assist you in negotiating an affordable repayment schedule and, in most cases, ensure that you remain in your home. A court hearing is not always the end of the story, so don’t give up on your home!
You can contact Keyhouse on the following numbers:
North Yorkshire (York, Scarborough and Bridlington: 01845 521458
Bradford: 01274 738954
Keighley and Skipton: 01535 211311
