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A Practical Guide to Mortgage Possession Proceedings

A Practical Guide to Mortgage Possession Proceedings

Paperback

General Law

ISBN10: 1913715973
ISBN13: 9781913715977
Publisher: Law Brief Pub Ltd
Published: May 10 2022
Pages: 150
Weight: 0.48
Height: 0.32 Width: 6.14 Depth: 9.21
Language: English

During the 2007/2008 financial crisis, figures compiled by the (then) Council of Mortgage Lenders reported a significant increase in possessions on the ground of mortgage arrears, with more claims for possession of mortgaged property than landlord and tenant possession claims during the third quarter of 2007. The recognition that something had to be done led to the introduction of the 'Pre-action protocol for mortgage possession claims based on mortgage or home purchase plan arrears in respect of residential property' which was designed to encourage early engagement between mortgagors and mortgagees with possession proceeding being a 'last possible resort'.

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General Law