Home Owner & Debtor Protection Act 2010 Takes Effect
27th August 2010
The Home Owner and Debtor Protection (Scotland) Act 2010, which improves the rights of mortgage borrowers facing repossession of their home on grounds of arrears, is due to take effect on 30 September 2010.
This new law will require mortgage repossession cases to call in open court, just like rent eviction cases, whereas previously lenders could obtain a repossession order by default. It will also impose pre-litigation conditions on lenders, who will have to satisfy courts that they have explored alternatives to repossession, and that repossession is the last resort and reasonable in the circumstances.
Renfrewshire Law Centre and the ...