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The Full Pre-Action Protocols can be found HERE
What are the main points ?
Your mortgage lender must send you a leaflet with more information on mortgage arrears and a statement of arrears, which should tell you:
Your lender must consider any proposals you make for repayments of the arrears and any other reasonable options you suggest for keeping your home. If your proposals are not accepted, your lender must write to you within 10 working days to explain why.
If your lender makes a proposal for you to clear your arrears, it must make this proposal easy to understand and should allow you a reasonable amount of time to consider this proposal.
If you make an agreement with your mortgage lender, but then don't keep to the agreement, you lender must give you 15 working days' notice that it will start court proceedings for repossession.
The parties should consider whether, given the individual circumstances of the borrower and the form of the agreement, it is reasonable and appropriate to do one or more of the following –
(1) extend the term of the mortgage;
(2) change the type of mortgage;
(3) defer payment of interest due under the mortgage;
(4) capitalise the arrears; or
(5) make use of any Government forbearance initiatives in which the lender chooses to participate.
Further Information from
What are the main points ?
Your mortgage lender must send you a leaflet with more information on mortgage arrears and a statement of arrears, which should tell you:
- the total amount of your mortgage arrears
- the outstanding balance on the mortgage
- any interest or charges that you have to pay.
Your lender must consider any proposals you make for repayments of the arrears and any other reasonable options you suggest for keeping your home. If your proposals are not accepted, your lender must write to you within 10 working days to explain why.
If your lender makes a proposal for you to clear your arrears, it must make this proposal easy to understand and should allow you a reasonable amount of time to consider this proposal.
If you make an agreement with your mortgage lender, but then don't keep to the agreement, you lender must give you 15 working days' notice that it will start court proceedings for repossession.
The parties should consider whether, given the individual circumstances of the borrower and the form of the agreement, it is reasonable and appropriate to do one or more of the following –
(1) extend the term of the mortgage;
(2) change the type of mortgage;
(3) defer payment of interest due under the mortgage;
(4) capitalise the arrears; or
(5) make use of any Government forbearance initiatives in which the lender chooses to participate.
Further Information from
- What is the pre-action protocol in repossession cases?
- Who has to follow the rules?
- Before a lender starts a court claim for repossession
- When lenders should not start repossession proceedings
- Steps a homeowner should take to prevent repossession
- Options to consider to avoid repossession
- If repossession is postponed so you can sell your home
- If lenders fail to follow the pre-action protocol
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