Stop Reposessions > Home Repossession > Why is it necessary?

Repossession Process

Why is Home Repossession necessary?

Most mortgage lenders see repossession as a last resort as there are many easier ways for lenders to get their money back from customers that have defaulted on payments. Borrowers in such circumstances are also given several stages where they have the opportunity to prevent their home from being repossessed.

The home repossession process involves going to court to start proceedings, which is often a complicated and lengthy process, and the majority of lenders would prefer to sit down and liaise with the borrower in an attempt to arrange for the arrears to be cleared without resorting to court action.

However, the number one priority for lenders is to ensure the cash they have lent out is protected and recovered in full. Therefore they will not hesitate to take harsh action and repossess the property of a customer that continues to have mortgage arrears.