Missed Payments / Mortgage Arrears
If you miss a payment to your lender, then you are in arrears with your mortgage. The more missed mortgage payments, the higher your arrears. Arrears can escalate quickly from missed mortgage payments. A Lender should send you a statement of arrears. Should you miss just one payment and future payments are completed in a timely manner, a Lender will simply ask you to make up the arrears. In the case of one missed payment, lenders are unlikely to start a repossession case at this point.
Missed Mortgage Payments
Following two missed mortgage payments, the situation intensifies. Should you miss a second payment your Lender will begin enquiries & firmly insist that the next payment will be made. Failure to clarify your position alongside missing further payments can be detrimental. Lenders will send your file to the Litigation Department. There is also the possibility to pass it to their legal team depending on their particular route.
Missed mortgage payments then lead to the beginning of the repossession process.
Mortgage Arrears / Repossession Process
Mortgage arrears & the repossession process are unmistakably interlinked. Should you fail into arrears, lenders can be aggressive. In circumstance of oppressive bank action, please contact Immediate Bank Claims.
We can assist you further with the process. Should you wish to discuss what might be an appropriate repayment amount without disclosing it to your Lender, we will be happy to assist you. Immediate Bank Claims can ensure you never agree to a payment plan you cannot afford. We can mediate any missed mortgage payment scenarios.
You cannot afford to ignore the repossession situation at hand. Afford yourself the options & expertise Immediate Bank Claims can supply. We are repossession specialists.
Call 0207 127 9134 for impartial independenst advice. Can you afford not to?
Missed Mortgage Payments in the Press:
The Guardian reports on millions fearing missed mortgage payments: