How Long Does A Suspended Order Last?

[billr1234]

Hi All,

 

This is my first post so bear with me if I havn't got it quite right please.

 

Two years ago my mortgage lender Stroud and Swindon obtained a suspended order for possesion due to mortgage arrears.

 

I attended court and a figure was agreed. The property is a now a rental, being my former matrimonial home and due to dificilties with the tennants, there were a couple of late payments and the lender applied for a Baliffs warrant. The amount requested was paid and the warrant stopped. The original arrears were cleared in June this year.

 

However, due to further tenant problems the account fell back into arrears (now cleared).

 

Stroud and Swindon now ITL Mortgages are insisting that the original Suspended Order remains valid and enforceable for six years and will be enforced if there are any further arrears on the account.

 

Surely this cant be right?

 

Any help would be gratefully recieved as this company are difficult and unpleasant to deal with.

[tonycee]

Unfortunately, as i found out to my cost, the suspension lasts for the whole remaining term of the mortgage, and not just 6 years as advised.

However, if the arrears are clear, you can apply to the court for a

Notice of discontinuance.

Once granted they will have to start the whole process again, but in the worst case scenario, you end up with more litigation costs.

 

If your arrears are clear and you have no fear of further legal recovery, then i wouldnt worry about the order.

They either enforce the old one, or get a new one.

 

Hope that helps, and welcome to CAG by the way.

 

TC