Stage 2: Solicitors Notice

Contact from Lender’s solicitors

Lenders will usually wait until 3 months to see if any efforts have been made to pay the arrears before referring the case to their solicitors. The solicitors representing the lender will write to the borrower and demand full reimbursement of all missed payments.

They will also inform them that failure to make these payments and improve their account could result in repossession of their property.

What can be done?

Borrowers in this situation should talk to the solicitors and follow the same process as with Stage 1 – i.e. reach an agreement on how to catch up with the missed payments over a period of time in addition to meeting the regular monthly payment. Notes should again be taken regarding any discussions that take place and details of any agreements reached should be requested to be sent in writing.