Homeowners falling behind on their payments are increasingly facing rejection when attempting to arrange repayments, according to Revival Repossession Solutions (RRP).
When faced with repossession and attempting to negoitate terms, lenders are becoming far stricter, and more likely to reject proposals.
The aggressive mentality is likely to be even stronger for lenders that are moving out of the sector and either asset managing or winding down their facilities.
RRP chief executive Luke Memory said: “Many lenders are simply not prepared to consider all the remedies available under Pre Action Protocol.
“Rejecting proposals from borrowers who have historic arrears but can demonstrate a current ability to pay is, in our opinion, a systematic abuse of process on behalf of lenders and should not be allowed to happen.”
“It is the non-lending lenders who are the worst culprits, which is ironic as a number of these are state owned.”
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