Repossession of House.

[DaisyDo]

Our interest mortgage has expired with Kensington. We have never been in arrears with our mortgage, and although the mortgage has expired we have continued to make payments. We were going down the route of Equity release but were advised not to do so so we have put our house on the market and we are in the process of selling. We have a buyer and await searches which are nationally delayed. We have also purchasing a smaller house. Our solicitor has contacted Kensington. We also notified them, as soon as we said we had a buyer we were sent a repossession order. The house is being sold for 460K the mortgage is 110K so there is adequate equity in the house to clear the mortgage. I filled in form N244 and received from the court Take note the hearing has been adjourned until 22 nd June 2018.... I also filled in the defence form and received at the same time General Form of Judgement or Order. This says Upon reading the application dated 9th May 2018 It is ordered that the hearing on the 4th June 2018 is vacated. Claim to be re-listed on the first open date after 28 days. I am confused.... We have kept Kensington fully informed regarding the progress... We are both 76 years old and this is very stressful...and we continue to send the monthly direct debit. Not sure what the judge will do,

[jaguarsuk]

The problem is that the capital of the mortgage became due at the date of the final interest repayment and as you have not entered into a formal agreement with Kensington the fact you are maintaining the direct debit payment is irrelevant.

I think your best way to deal with this is to negotiate a settlement with Kensington via a consent order that repayment will be made upon completion of the sale of the house.