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This means that the hearing is put back to a later date to give the lender time to comply. The judge could adjourn the hearing if your lender has not followed the rules. Your lender must write to you 5 working days before they start court action and explain why they are applying to court.Īt the repossession hearing, they need to show that they've followed the rules in the pre-action protocol checklist. If the lender goes ahead with court action before the ombudsman makes a decision, they must write to you and explain why. ![]() Your lender must consider delaying court action if you're waiting for the outcome of a complaint to the Financial Ombudsman. If you've complained to the Financial Ombudsman Give permission for your estate agent and conveyancer to speak to your lender Provide the lender with an energy performance certificate and sale brochure Show the property is on the market at a realistic price Your lender must consider delaying court action if you're taking steps to sell your home. They might not delay court action unless you can show that you:Ĭan meet any payments not covered by benefits or insuranceĮxpect your finances to improve in the foreseeable future - for example, you've been offered a better paid job or you're taking in a lodger Mortgage protection payments from an insurance policy Your lender may delay court action if you're waiting for any of the following: The 250,000 guarantee also applies to each holder if the account is jointly owned. So if you have 250,000 with Bank A and 250,000 with Bank B but they’re both under the same ADI, then you will only be guaranteed for the first 250,000 - not 500,000. If you've applied for benefits or other financial help It’s worth noting that multiple banks may be under the same ADI. The lender must give you 15 working days' notice if they intend to go to court because you've broken the agreement. ![]() If they do not accept your proposal, they must write to you within 10 working days to explain why. Your lender must consider any repayment offer you suggest. If you make a proposal to repay the arrears They should also give you this leaflet from the National Homelessness Advice Service (NHAS). Monthly instalments and total mortgage debt The lender has to show the court they have followed these rules. The rules are known as the pre-action protocol for mortgage arrears. ![]() The court has rules about what a lender should do before starting court action. They might tell your lender to stop court action and come to a reasonable repayment arrangement out of court. The Financial Ombudsman can look at the way the lender has dealt with your case. Complain to the Financial Ombudsman Service if you're unhappy with the response or you do not hear from your lender within 8 weeks.
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