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UK Finance blogs discuss residential repossessions and potential support options

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Published on: 13 May 2021

Published by LNB News

LNB News 13/05/2021

Document Information

Issue Date: 13 May 2021

Published Date: 13 May 2021

Jurisdiction(s): England, Northern Ireland, Scotland and Wales

Article summary

Following the 1 April 2021 end of the Financial Conduct Authority’s coronavirus (COVID-19) moratorium on residential repossessions, a UK Finance blog (Mortgage protections exist but lenders may need to seek possession) has noted that repossessions are likely to rise to deal with a backlog of cases, but states that such moves are only ever a last resort once lenders have exhausted all options to support the customer to return to paying their mortgage. The blog outlines the process involved and suggests possible options for mortgage customers in financial difficulty.

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