Over last few year most of UK people found themselves under debt due to high Interest rate. This is due to mortgage, credit card debt and other financial debt. Experts say that UK people have over 1 trillion pound in debt. Every home owner knows it. All Financial agency including Mortgage Company, Bank and lender has the right to take you home if you are unable to pay your loan. Repossession does not have speedy process. It is step by step legal action has taken by your lender started at your legal country court. If you miss one payment then your home are not going to be repossessed. Almost all people have missed at least 1 mortgage payment in their life. For any repossession action you should be short of 2-3 mortgage payments. If you receive any repossession order, you don’t need to afraid that you are losing your home. It is first step against you by lender for their debt. There would be several orders before actual repossession. Even lender would like to settlement rather then your home repossession because for any repossession order lender would also spend money and time.