Hi, I am looking for some clarification/direction,can a PDH be repossessed by a lender if they deem the mortgage to be unsustainable,there are no arrears and full P&I repayments are made on a monthly basis?
Thanks for your reply Clonback, is this the case if they send a letter deeming it to be so? The mortgage was previously protected under the MARP code(pre-arrears)as my working hours were decreased for 5 months and I was trying to pre-empt any difficulties and applied for temporary forebearance (interest only for 6 months) It has taken until now for them to respond and the response was that the mortgage is deemed unsustainable and listed the options such as voluntary surrender etc. would I be correct in assuming that if I continue to meet full repayments that they cannot 'force' me to sell my house or that they can't repossess?
If you are paying as per the agreement and have been paying as per the agreement then you have in no way breached the terms of the contract so they cannot simply force anything.
If you are paying as per the agreement and have been paying as per the agreement then you have in no way breached the terms of the contract so they cannot simply force anything.