Fair mortgage terms. So we got a lot of special skills and actually dealing with these types of situations, but a lot of people don’t understand them. The other question that’s quite common about what the banks don’t tell you is, did you know that?

Two months is all that is required to lose your properties to the bank. So owning your property is not as easy as you think. So we basically teach people how to handle the bank’s mortgage reuse Department and create clever solutions to avoid repossession. So that’s why we have expertise! Another common issue is that banks don’t need a court order to possess your bike to let it’s shocking but true.

Are court orders required for repossessions?

We expose the truth about repossession without a court order. So all of these things we would do if you’ve got any repossession issues, we’re happy to sort of meet up with people and go through it with them. We also expose the truth about behind mortgage arrears because the banks can punish against all mortgage even if one mortgage is in the arrears properties. So there’s something called the dreaded all money is charge.

So we’re specialists in understanding some of these technical terms and actually how they’re applied by the banks unraveling them and getting you out of this sort of complicated issues.

What is a default on a mortgage?

As soon as you miss or make a reduced payment on your mortgage, you risk causing damage to your credit profile. Once this happens, your options begin to become more difficult. If you believe you will not be able to make a mortgage payment, your best action is to contact your mortgage provider in advance.

Before your mortgage goes into default, you will first be sent a default notice by your lender. This usually happens if you have missed or made reduced repayments for a period of three to six months.

You can think of a default notice as an alarm bell or red flag. You should already be talking to your lender at this stage but if you haven’t, now is the time to make that call.

The notice will give you two weeks to catch up with your repayments. If you manage to do this everything returns to normal, but your credit profile will show late or missed mortgage payments. However, if you can’t, your account will officially go into default.

At this point your lender can take action to get its money back. This may involve your lender taking you to court and could result in it repossessing your home.

The bank has more than seven reasons to put you into default even if your mortgage payment is up to date. So we’ve got the expertise and actually the know how around what the terms and conditions actually mean and how they are implemented. And this is quite a funny one. Don’t think there’s such a thing as a good bank when you are facing repossession.

A lot of times, landlords are sometimes misled by verbal conversations with the bank staff who promised the world to give nothing. So we teach people how to keep all the communication with the bank and to file the bank and how to file all of it and to avoid being misled by the banks in any way. The last topic that comes to mind is why the banks will let you sell your property quickly.

 So landlords facing difficulty, we find that the ability to liquidate assets becomes even more difficult once the bank plies its draconian laws. So each mortgage contracts an independent contract. Don’t let them fool you in thinking otherwise. So a lot of information there, they all sound a bit technical. Well, I suppose it is technical. So we are happy to help with all those processes. If you need any help with any repossession type issue, we’ve been untangling and stopping repossession for the last. It’s been over 15 years.

When it comes to LPA receivers, we are the leading specialists in dis-instructing LPA receivers in the country. So a lot of information for you to take in. So I’m going to move on to a couple of other bits now.

Now, what are the strategies to do with major problems your property portfolio? So how do you stop r9epossession? How do you deal with credit repair, negative equity?

So the key strategies for stopping repossession. The key thing is prevention is better than cure. So most important thing that you should be doing is to avoid repossession, whether you’re a homeowner or a vital owner is to just make sure that you understood the terms and conditions of your mortgage. Now, the problem with the system is that most people just buy a property, sign the terms and conditions, and they don’t realize the implications of what they’re signing, and they don’t understand the technicalities of it. In my view, just like when you’re buying a car and then driving.

And if you need to pass the test, they should actually be some sort of basic training course for people about how repossession works, what happens if you go into rears, but all the different possibilities. So basically, when you get three points on your license where you got the choice of going in for like a four hour training program on how to improve your Highway Code skills, you normally come out and then you don’t have to put the three points on your license.

I think in the same way, a lot of homeowners and by select property owners; there should be something there which actually educates people as to what can happen to them. But in this case, rather than you being a nuisance to other drivers or causing accidents because it’s very dangerous this case you’d potentially be having skills or knowledge to be able to save your house from repossession. So I think my view is that somebody put a training course together.

All the dos and don’ts are actually running an effective home in terms of its finances and understanding the terms and conditions. I think there should definitely be some sort of training course about that. That would probably take me out of a job, but that would be good, actually, because it’s quite a sad thing to see so many people who don’t understand the laws around repossession getting into trouble and the same way for vitality premises.

I think anybody that takes on any of those responsibilities and commercial should also probably be given a training course on how to deal with commercial assets, the vital asset and work out how they can basically deal with all the risks around potentially losing the properties. So if you’re a homeowner, one of the key things is it’s very important to review your property regularly in terms of its terms and conditions. Good morning, Mandy. How are you doing?

I haven’t seen you for a long time. Actually, I’ve got about six or seven people saying, Good morning now. So good morning. Good morning, Raj. It’s also Hazel Jon Smith. We’ve also got Carolyn is that I’ve got about 15 people coming online now, different platforms saying Hello, good morning to all of you. I hope you all had a great weekend.