Can my house be repossessed if i cant pay the mortgage on another property?
It will depend on the terms of the mortgage on the flat, whether you are in negative equity with it, and/or how nasty your mortgage company are. In general terms a mortgage is a loan secured on property. Legally if you get into arrears with a mortgage the lender has the right to insist on full repayment there and then. If you fail to do this (and clearly most people can’t) they can then issue proceedings to repossess the property used as security to sell it so they can pay off the debt. If the security for the mortgage on the flat is only the flat itself, then the lender can only issue formal repossession proceedings against the flat. But if you are in negative equity (or close to it) the sale of the flat may not be enough to cover the mortgage debt. In these circumstances the lender will sue you for the balance. If you have no other means of payment they could attempt to enforce this debt by requesting a court order for the sale of your house. This is a method of enforcement that is a
