Experts in Stopping Repossession & Clearing Mortgage Arrears

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If you’re facing repossession of your house, TIC Finance can provide fast, reliable advice and support to prevent losing your home. We offer fast-acting loans, as well as free initial advice on your situation. Getting a possession order can be distressing, which is why TIC Finance is on-hand to offer our experienced support no matter what you need help with.

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Why choose TIC Finance?

  • 24 hour service, 7 days a week
  • Instant advice, support and solutions
  • We only work with FCA approved financers
  • Over a decade of experience in the lending industry
  • We’ve helped thousands of people resolve their mortgage issues
  • Tailor made finance packages for every client

The TIC Finance process

  1. Get in contact with us at 020 3411 4451 or by completing our enquiry form.
  2. One of our specialist advisors will call back and discuss how we can assist you.
  3. Our expert advisors will guide you through the process and enquire on additional information. We do not judge our clients on the basis of their credit scores.
  4. Once we have all your information, we will negotiate an agreement on our terms of the contract.
  5. The next step is to find an SRA regulated solicitor to represent your interest in this matter and witness the signing of documents.
  6. On receipt of the signed original documents we will release funds within 24 hours.

How do I stop a repossession order?

Despite what you’ve heard, you can stop a repossession order at any time, nearly up until eviction day. But, no matter how you go about stopping a repossession order, you must sort out how you would like to deal with your mortgage problems. At the very least, you should start making a plan and then convince your lender to agree with you. Believe it or not, the law requires lenders to be open to receiving your suggestions, whether they like them or not.

Your options to avoid repossession of your home:

  1. Make a plan to settle your mortgage debts.
  2. Write a letter to your lender attempting a mortgage negotiation.
  3. Look into free mortgage-rescue services you could potentially qualify for.

If your lender has already filed a claim against you, take these next steps:

  1. Prepare evidence and legal representation for your repossession hearing.
  2. If you were issued a repossession order, ask a legal adviser if your circumstances qualify to file for a new order to keep your home.
  3. Try to make a new financial agreement with your lender.
  4. Consider getting a bridging loan to resolve your mortgage arrears and stop repossession.

Home repossession FAQs

You’ll need to present your lender with a clear, reasonable plan that could work to resolve the debts you owe. Remember that it’s better to present some kind of repayment strategy, even if you think there’s little chance of success – taking no action throughout the process could give your lender the legal upper hand.

Starting a written dialogue with the lender will at least buy you more time, if nothing else. You will need to keep copies of all the letters like these that you send to your lender as well as everything they send you. It’s tempting to think that a few phone calls can be a shortcut for you, but you’re going to want to generate a paper trail that you can show in court if necessary.

You’ll need to start by contacting your lender. Look on the last mortgage statement or letter you received from your lender to get the correct address and a name of the person or division of people handling your loan. Keep the tone of your letters kind but formal.

Tell them in your own words a summary of why you’re behind on the mortgage payments and how you’d like to make up the payments. You may find it useful to include an optimistic statement about how your financial matters will eventually improve due to your plan to, for example, increase your income, receive insurance benefits, get government financial assistance or take out another type of loan.

Close on a positive note by mentioning anything good about your history, like previous payments you’ve made on-time and if you still have equity in your home, meaning that your property’s worth more than the amount due on your mortgage. You’ll want to give your lender a good reason to file your case into their “not urgent” category of papers. They’ll appreciate hearing something from you much more than waiting around to see if you care enough to respond to their notices about late payments.

The UK government offers support for homeowners known as Support for Mortgage Interest. This is a paid loan which is given to those currently receiving qualifying benefits. Find out if you’re eligible for Support for Mortgage Interest (SMI) from the UK government.

Alternatively, reach out to someone from Shelter or Civil Legal Advice to see if you can apply for any other government benefits.

You’ll need to put together evidence that you can resolve your mortgage problems and pay back the money owed to your lender. Contact your local county court and ask about how to get free legal representation for your repossession hearing, which is available in most major county courts.

To prepare for your hearing, it’s time to get together all the papers that support your claims to keep the property. If you have written a few letters to the lender trying to renegotiate your mortgage, bring copies of those letters with you to court as evidence that you’ve been cooperating. Bring all of your financial statements, the defence form and proof of any benefits claims you’ve made with you to court. 

The better prepared you are, the more likely the judge is to take your side by perhaps giving you more time or working out a more reasonable debt-settlement plan for you.

Now before you write your brilliant action plan to your lender, you need to have a legitimate plan that could actually work, obviously. This part seems like the hardest bit, but don’t panic yet. Go through this checklist to see if any of these options could work for you:

  • Work out your monthly budget: Go through your list of last month’s expenses and see if you can modify your lifestyle to cut back on any of these. Also, consider ways you could boost your income. You may need to show copies of your financial statements proving income and expenses to back up your mortgage-negotiation proposals too, so start putting this proof together now.
  • Search for a cheaper mortgage with a different agency: You may need financing to settle what you owe to your current lender, but in the end, you could have lower monthly payments by transferring your mortgage elsewhere. The Money Advice Service website has more details about this choice.
  • Research a temporary break in payments: If so, then ask them to either reduce your required payments for a certain period of time, stop billing you for mortgage payments temporarily or extend the lifespan of your mortgage in order to lower the payments, even though lengthening a mortgage means you’ll pay more interest over the years.
  • Shared-ownership scheme: You might need to consider selling back some portion of the ownership of your property to the landlord for “flexible tenure.”

If none of these options are available to you, contact your nearest Citizens Advice Bureau for advice from a professional debt adviser. They might recommend researching bridging finance or other special financing options for stopping the repossession of your house.

The length of time it takes to repossess a house depends on how you communicate with your lender and the strength of your negotiations. Normally, a possession order will not be issued before you’ve missed six months of mortgage payments. From receiving the possession order to having your home repossessed could take months, with court hearings and written negotiations potentially lengthening this.

If you’re wondering how long you’ve got before your property is repossessed, you can check out our detailed guide on the time taken for house repossession.

An appeal can only be submitted once a decision has been made in court. Appeals cannot be made to the same court and need to be escalated, so this isn’t the most common process of stopping repossession.

If your court hearing flopped and they’ve issued the repossession order, use one of these last-resort measures to stop it:

  • Ask a legal adviser if your circumstances qualify to file for a new order to keep your home. You may be able to suspend the possession order or appeal to another judge.
  • Try again to make a new financial agreement with your lender. They can renegotiate your terms and repeal the repossession order even up until the day of eviction.
  • Consider getting a bridging loan to resolve your mortgage arrears immediately and stop repossession.

Typically, a possession order won’t be issued before you’ve missed six months of mortgage payments. After your first month of missed payments, your lender will send you a polite notice requiring you to pay. These will become more frequent as time goes on, especially if you don’t proactively contact your lender to start the negotiation process.

It’s highly advisable to sell your house to stop the lender from taking ownership. This is because if the lender sells the house, you may get a lesser value at an auction, you will pay estate agents’ costs, you will be required to pay legal costs, and even worse, you will be required to continue paying until the house is sold.

Need advice to stop repossession of your house?

TIC Finance has years of experience providing reliable financing to support people in mortgage arrears.

Get in touch by calling 020 3411 4451 or email info@ticfinance.co.uk for free expert advice today.