house repossession

[duvetcovereddissident]

Can anyone please give me any insight into what happens in a house repossession? It isn't my house that is at risk, but a friend's.

She is expecting me to be able to take her in if/when this happens, but it is impossible to get any sort of straight answer from her about what is happening, and when.

Shes has court summons,- I have seen this - but if it is at the court summon stage, how far is she from actually being out on the street.

This is about non payment of mortgage

I don't really need ways to avoid it, as it isn't a situation that I can influence in any way, it is on her, and I don't think she is cooperating with social services, court, bank, or anyone really

any insight at all, please, will be gratefully received

Thank you

she has children and
social services are involved?

no children, no. She is elderly and in poor health

Is she claiming all the benefits to which she is entitled, I.e. Pension Credit, council tax relief etc?

I dont know, like I said, I cant get any straight answers, and I am not in a position to intervene, anyway.

really, does anyone know how long it takes from court summons - are we talking weeks, months, years? Thank you.

If she is elderly, surely there can’t be long to go on the mortgage, and she is likely to have purchased some time ago when she was still working - is it possible, given the phenomenal rise in house prices over the past 20 years or so, even if the sale is forced and she has to leave, that there will be significant equity remaining after the mortgage is paid back along with costs? I believe that would come back to her (though no first hand knowledge so I could be wrong). In this scenario I would have thought she is likely to end up with a sum she can use to secure her own place.

It will depend on where she lives and that court/ enforcement system. Where I am it can take several months if not a year or more.. but in England there’s a different system
If in England would recommend you contact Shelter etc https://england.shelter.org.uk/what_we_do, they should also have links to other jurisdictions, also social services if she is elderly and vulnerable

If you take her in, she won't be homeless so council are less likely to help her.
If its repossessed and she has 'nowhere' to go, the council are more inclined to help her with emergency accommodation.
So, I wouldn't take her in personally, even though it sounds harsh, sorry.

interest only without enough equity in the endowment?

I think she bought the house after retirement

I personally would be very wary of housing anyone who isn't engaging with services, or who isn't being completely transparent about the whole situation.

My concern would be that they won't be rehoused and so will live with you for ever. Also if not financially secure... will they put debts against your address

Some information that might help. You could also speak to CAB.
https://www.repossession-expert.co.uk/repossession-court-hearing/?utm_source=google&utm_medium=cpc&utm_campaign=ppc-repossession&gclid=Cj0KCQjwocShBhCOARIsAFVYq0jD1tu0Tu5H6R7Z4HqhpSL_DleYGpsVAj3aA7Y_Kq5eGIwBWDNzuq0aAh_wEALw_wcB

https://www.citizensadvice.org.uk/debt-and-money/mortgage-problems-debt-and-money/your-mortgage-lender-takes-you-to-court-how-to-prepare-for-the-court-hearing/

scroll down the page on the first one as it does give advice lower down page.

You need to provide more information. For how long is the mortgage, how much is outstanding, is it repayment or interest only, what's her income? It is possible a possession order can be argued against, but without that info no one can help.

If an outright possession order is awarded the occupant normally has 14 days from the hearing date.

I wouldn’t be taking in an uncooperative person who is hiding information from you. If you decide to make this sensible decision you need to tell ASAP.

Unfortunately this is unlikely as there will be significant charges placed on the account as well as court fees.
As said above, there is usually 14 days from issue to the house being secured.
You also need to consider if homing her will be a possible long term solution. Have you posted about this before?

Age UK may be able to give advice. If she comes to you signpost her there , CAB or to council. How did she get a mortgage in retirement? Was she fully informed of the risks of not paying? Agree it seems doubtful she is being straight with you and on that basis alone do not agree to take her in. If she will be homeless she needs to contact the council. There may be vacancies in sheltered accommodation.

This is very very helpful and informative, thank you

no, you are right, I am very concerned that she is not being straight with me

How has she obtained a mortgage after retirement? What is the involvement of social services?

You do need more info OP, as does anyone here if they're to advise. The best way is probably to sit her down and say that you can only help if you're given access to that information, and otherwise won't be able to do so.

All you can do otherwise is make a call to the council, ask to speak to the adult safeguarding coordinator and express your concerns that this person is not able to deal with their affairs, has no support and is imminently likely to be without a safe place to stay.

If you know which GP practice she is registered with you can also divert your concerns to them - they won't discuss her care or details with you but certainly can pass them on to the GP who can divert the cause to appropriate services or make welfare checks.

Highly unlikely!

why?

Unlikely to get a mortgage after retirement age . Really she should try and sell before re-possession to maximise any equity if there is any . They really do need to talk to someone and get help.

well, my memory may be wrong, but I am fairly sure it was after retirement - does that change anything?

It wasn't her first property, or her largest

I work for a charity for the elderly and it's surprising how often we see this. People have interest only mortgages then reach retirement and have no way of repaying the capital and can't remortgage. I had one case recently of a woman whose husband had died and on sorting his affairs she realised that at some point the husband had switched the mortgage to interest only, and whilst she has thought the mortgage was almost paid off, she actually still owed thousands. Sadly it's a pretty common scenario.