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Original poster

Not sure if this should be in property? Does anyone know the length of time it takes from the month you miss a mortgage payment, till you get kicked out?

30 replies

NatalieJane · 26/03/2009 15:45

Really can't face going through all of the minor factors again, but suffice to say, possibly next month, if not then in May, we won't be able to meet our mortgage payment anymore, if we show that we can no longer afford the full ammount, and that we will pay as much as we possibly can each month, we know it's heading eventually for a repossession, but roughly how long can you put it off for? Are we talking 3 months? 6 months? More?

BTW no chance of payment hols or interest only.

TIA

OP posts:
OldLadyKnowsNothing · 26/03/2009 15:47

I read recently that most banks will give you six months, but can't guarantee that.

Sorry to hear about your problem.

Original poster
NatalieJane · 26/03/2009 15:49

But is it 6 months before they set a court date for the repossion order, or is it 6 months till your time is up?

OP posts:
Washersaurus · 26/03/2009 15:54

Call Citizens Advice, they will be able to tell you. The council maybe able to help if it is a temporary thing. Have you actually been in touch with your mortgage lender?

Original poster
NatalieJane · 26/03/2009 16:05

We've tried CAB, we've tried solicitors, and a few of the other so called debt help places, and no one can seem to give us a straight answer, all we get is 'oh, you don't want your house repossessed' yes, we know that, but it will be, so give us a bloody clue how long we have!

I apreciate it will vary from lender to lender and because of individual circumstances, but there must be at least a rough idea of times?

We've not contacted them yet, we haven't actually defaulted yet, and if a miracle happened and we suddenly could find the money from somewhere, well we'd just rather not tell them until we have to - i.e. just before the first lower payment will be.

OP posts:
LIZS · 26/03/2009 16:09

I think it is often 6 months before starting proceedings but each lender will vary and possibly even each mortgage deal. If you can make regular reduced payments then it should buy you more time but at some point you will need to make it up and overpay or actively look to sell if it would pay off your mortgage balance. You would be better approaching your lender now with an offer to pay rather than defaulting at the last minute. CAB can help you draft a letter to start things off.

noddyholder · 26/03/2009 16:12

Why don't you try and sell it rather than ruining your credit score for the future?Also I think they would give you more time if it looked like you were trying to sell

iheartdusty · 26/03/2009 16:13

it is very unusual to start the court process with less than 3 months' arrears.

there is a new Mortgage Possession Protocol which basically says that the lender MUST try to work with you to avoid possession - payment holiday, interest only, whatever.

Once the court process starts it gives you a hearing date about 6 weeks after it begins. If you can't persuade the judge then to give you extra time, the normal order is that the bank can take possession after 28 days.

After your time is up, if it is necessary to carry out an actual eviction (ie you haven't left) it usually takes another 4-6 weeks for a bailiffs' eviction appointment.

So if there is really no chance, the total time from missing a payment to eviction would be about 6 - 8 months.

Original poster
NatalieJane · 26/03/2009 16:21

Can't sell, well the chances of selling it are so very fine, and even then we'd be damn lucky to sell it for what the mortgage is worth. However we are going to put it on the market next month, it won't sell if it's not for sale!

Dusty, thank you, at least we have some sort of time scale to work to now, we're going round in circles trying to get some answers, no one seems to want to be pinned down.

OP posts:
FAQinglovely · 26/03/2009 16:26

Natalie - DH missed his first payment at the end of September/start of October, he was told (by the bank) after 3 months he'd get a letter demanding the full amount outstanding.

He then sent them a compromise (lower payments only just about the interest on it) which they accepted (they had refused before he missed the first payment but once it was at that stage they were happy to negotiate ). He managed to make the first payment, but then was fired (unfair dismissal), and has missed the last one. He's rung them again and told them that he was getting JSA and they've said they'll hold off action for a while until he's been on it 13 weeks and gets help with the interest. So that's going to be another 2 months yet - taking us to May - which will be 8 months since the first missed payment.

After that if the payments aren't sorted they'll start the process again - demand notice with 28 days on it etc etc.

LauriefairycakeeatsCupid · 26/03/2009 16:31

they will be much more likely to negotiate and allow you to go to interest only (can you find the interest only payments?) once you've actually defaulted.

Sorry for what you're going through

I know you've probably been through this but do you want to post a budget/income to see if anyone can help with suggestions?

FAQinglovely · 26/03/2009 16:31

oh the mortgage is with HSBC if that's any help.

They courts like to avoid repossession which is why the banks will suddenly negotiate with you after the demand notice has been sent as (in my opinion) if they go to court and you stand up and say "but look I offered them x,y,z and they wouldn't even look at it" I don't think the courts are too happy usually.

TheProfiteroleThief · 26/03/2009 16:35

This reply has been deleted

Message withdrawn at poster's request.

Lulumama · 26/03/2009 16:38

am really sorry to hear this .

why no payment holiday or interest only?

any way of increasing income or borrowing money from family?

i also have heard 6 months from default to starting proceedings, but that if you are willing to make some payment and negotiate and communicate with the lenders, you can hold things off for longer.

what an awful situation

lalalonglegs · 26/03/2009 17:35

I'm sorry no one will give you a straight answer but I think that is because there isn't one. It will depend on the aggression of the bank (whether they want to negotiate or go for foreclosure), how booked up the courts are, whether the judge wants to give you a chance to sort it out... Sorry.

FAQinglovely · 26/03/2009 17:38

Lulu - HSBC refused payment holidays/interest only/reduced payments, he asked them for months and they just kept saying no (he knew the defaulting was going to happen eventually). They simply didn't want to know at all.

After they'd sent the 28 demand notice they were suddenly willing to talk and accept his (much lower) repayment offer.

eandh · 26/03/2009 17:46

it will depend on who the mortgage is with if it is northern rock/bradford and bingley then its owned by the goverment and from experience (I work for bradford and bingley but now work for abbey as they bought tje branch network) then they are clamping down quite quickly on late payments etc (although they are waivering any penalty fees if you change your mortgage provider by June )

Original poster
NatalieJane · 26/03/2009 18:23

Thanks everyone, knew I could count on MN to give us the answer!

Now any idea on how long you can draw out a car repossession? It's on HP, again we'll pay as much as we can, when we can. Am guessing it'll be a lot quicker than the mortgage? We're not half way through so handing it back isn't an option yet.

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Original poster
NatalieJane · 26/03/2009 18:27

Sorry Laurie, TBH, we've always had an 'incomings/outgoings' spread sheet set up for the bills, we've cut out everything we can (and before anyone says about the 'net, it's part of a package that we're only tied into for another couple of months, and besides, even if we broke the contract with Sky, it's not going to make the slightest bit of difference to the overall picture.) So unless anyone has a magic way of cutting essential bills like Council Tax and the utilities (all checked and we're on the cheapest rates we can get), not sure posting our budget planner will do much good TBH.

OP posts:
LuckySalem · 26/03/2009 18:28

NJ I'm so sorry to hear this.

Chances are if you write to your bank they'll go with a lower payment because they know how unlikely a house is to sell in this climate so any money they can get will be good.
Just try to keep it as close to the original mortgage payment that you can.

When I was in mortgages it used to take 6 months before the letter, then they'd sort out a court date and you'd normally have missed 8 payments before they took the house.

As for the car - Sell it, pay them as much as you can then tell them you've got no money and they should again agree a lower payment till you've paid it off.

Original poster
NatalieJane · 26/03/2009 18:32

We can't sell the car, while we still have the HP agreement, the car technically belongs to the lender. Even if we did sell it, firstly we'd be breaking the law, and secongly it's worth a fair few grand, anyone who bought it would do a HPI check and see it's not our's to sell.

OP posts:
OldLadyKnowsNothing · 26/03/2009 18:32

You can't sell a car you don't own!

Original poster
NatalieJane · 26/03/2009 18:33

Sorry, am typing one handed....

OP posts:
OldLadyKnowsNothing · 26/03/2009 18:33

X post.

Lulumama · 26/03/2009 18:44

NJ, why have they said no to interest only or payment holiday? is an IVA an option? is there anyone in the family you could borrow some money from? is there any way of increasing income if you can;t cut outgoings anymore?

Lulumama · 26/03/2009 18:44

are you entitled to any benefits? wtc? that sort of thing? if you are , make sure you are claiming everything

can you hand the car back?

best thing is to speak to the lenders involved