Arrears on secured loans and second mortgages
If you miss payments to your secured loan or second mortgage, your lender could take action to repossess and sell your home. This section explains more about the procedure your lender must follow and action that you can take to delay or prevent your home from being repossessed. This procedure is slightly different to the standard repossession process.
If you took your loan out before 6 April 2008 and it was for more than £25,000 (or £15,000 if the loan was taken out before 1 May 1998), the lender must use the standard repossession procedure.
The page about secured loans and second mortgages explains how they differ from first mortgages and looks at what you can do if you get into arrears.