|
What the court considers
The Supreme Court takes various factors into account in deciding whether or not to grant a stay, including that the defendant (the borrower) wants time to:
- defend the original claim (which, if successful, may defeat the lender’s claim)
- arrange the refinancing of the mortgage (which may make taking possession unnecessary)
- sell the property (which is likely to be cheaper and quicker than a sale by the lender after taking possession).
The court will also consider other factors, including:
- why you did not take action earlier, before the lender obtained a judgment for possession
- compassionate grounds (although any stay granted on this basis alone is not likely to be for very long)
- any problems for the lender if the stay is granted (for example, if the sale price of the property will not cover the debt, any delay is likely to increase the shortfall unless the market is rising)
- the amount of the debt
- the borrower’s payment record.
Related Topics
Stay applications in the Supreme Court
How long does a stay last?
|
Welcome to The Mortgage Stress Handbook 
What this handbook is about
Stay applications in the Supreme Court
