I posted a while ago saying that abbey national are going for repossession for three months arrears (about £600) the date has been set for the 21st may.

We came to a agreement with them over paying the arrears back at £60 per week which they accepted (this was arranged before they decided to go a long with court procedings) and we have kept to this aggreement since. they say its only going to court to "secure the aggrement" and that we will not lose our property, but i am worried that they will get to court and the judge will give them our home.

what are the chances of this happening or do you think the judge will let us carry on paying as we are. whats also makes me angry is that we will have to pay court cost aswell just to secure the aggreement

-- Tracey (Tracey.holland@btinternet.com), May 14, 2003

Answers

Tracey,

I think the chances of what you suggest happening are very slim indeed providing you can maintain the payments as agreed, did you get the agreement in writing? I believe the Abbey National are a member of the Council of Mortgage Lenders. The CML state:

Mortgage Arrears

General Principles

2. The following general principles are relevant to the question of mortgage arrears -

(a) When a borrower falls into arrears, the problem should be handled sympathetically and positively by the lender. The lender's first step will be to try to contact the borrower to discuss the matter.

(b) As soon as financial difficulties arise, the borrower should let the lender know as soon as possible.

(c) Once contact has been established, a plan for dealing with the borrower's financial difficulties and clearing the arrears will be developed consistent with the interests of both the borrower and the lender.

(d) Possession of the property will be sought only as a last resort when attempts to reach alternative arrangements with borrowers have been unsuccessful. The borrower will remain liable for the full mortgage debt.

Tracey, ref (d) above, as alternative arrangements have been successful you should have no problem. However, I am DISGUSTED at the so called sympathetic and positive attitude being adopted by the ABBEY NATIONAL yet again. Tracey have a look at "Handling of Arrears and Possessions" on the CML website: http://www.cml.org.uk/servlet/dycon/zt- cml/cml/live/en/cml/pub_info_arrears

If I were you I would ring the Mortgage Code Compliance Board on 01785 218200 explain the situation and ask them whether Abbey National's taking you to court is the sort of sympathetic and positive treatment referred to in the Mortgage Code. I'm sure we would all be very interested to hear what they have to say. Good Luck.

Mark

-- M Amos (idgroms@hotmail.com), May 14, 2003.