Caution urged over RBS and NRock repossession pledges

Salans argues repossession is not an instant process and so, by extending the start date by six months, the repossession will not happen until nine months when even more debt will be leveled against the borrower. "It is challenging enough for lenders to get an account three months in arrears back on track and so it is not difficult to realise that the challenge will increase should this time period be doubled," says Caroline Havers, partner at Salans Bromley. "Early intervention to help borrowers restructure their loan is the key to staving off repossession and there is certainly an arg...