Homeowners threatened with repossession
A recent decision by the High Court to uphold the decision of lender GMAC-RFC to take control and sell a home after a borrower fell into arrears has caused grave concern among homeowners throughout the UK.
This decision means that mortgage lenders can now by-pass Gordon Brown’s recent announcement that banks must only seize homes as a last resort.
Politicians and lawmakers throughout the UK have called for an urgent change in the law to ensure this does not happen.
The decision reinforced a law dating back from 1925, which allowed lenders to sell the homes of people who were 2 months in arrears without going to court.
Lyndon Campbell, Head of Conveyancing at Simpson Millar LLP comments: "With the worry of a deep recession the last thing homeowners need is a law that bypasses their rights to be treated fairly".
"What we can do is help take the weight off your shoulders and look at the ways you may be able to avoid repossession. "
"We have helped many homeowners in this situation by delaying eviction notices to give you more time to raise funds and discuss your options."