The Law Society has published a practice note for solicitors who are advising borrowers where mortgage payments are in arrears and residential mortgage possession proceedings are threatened. To view the note, click on Mortgage repossession practice note – 15 January 2009. The practice note gives advice on how to check that a lender’s possession proceedings comply with the new protocol for mortgage possession proceedings (see the Pre-Action Protocol for Possession Claims based on Mortgage or Home Purchase Plan Arrears in Respect of Residential Property) and how to advise clients where a lender has already appointed a receiver and bypassed the bringing of possession proceedings.
Property PSL