Rat and Mouse
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When does mortgage arrears become squatting?

After 15 years, according to a judge. Djabar Babal has been awarded squatter's rights to his £200,000 Stockport home, after failing to pay anything on the property since coughing up just £40 sometime in 1993. So is the rule good news for people struggling to pay their mortgages? Not likely... it may mean lenders acting quicker on defaulters, for fear they'll lose everything if they hang around. More here.

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Comments

To be frank about the views I would like to conclude that An experienced professional can pay off mortgage arrears virtually immediately (there are ways and means). Your mortgage arrears are cleared even before your cash house sale completes.

http://www.greenhillfinance.co.uk/GreenhillMortgages.aspx

Posted by mortgage arrears at March 4, 2008 9:55 AM

Comments

It's a shame that an error on the part of the Nat West will lead to lenders becoming less tolerant of defaulters, especially given current market conditions.

It's about time the Government intervened and gave more help to those under the threat of repossession.

http://www.buy-my-house-ez.co.uk

Posted by Lorraine at May 1, 2008 12:34 PM


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