The FCA has confirmed that firms can enforce Repossessions from the 1st of April

In an update to its draft guidance, the FCA said that firms can only enforce repossessions "if they act in accordance with our guidance and regulatory requirements which mean that repossession should only take place as a last resort if all other reasonable attempts to resolve the position have failed".

Firms will also need to comply with any relevant legislative requirements which may prevent firms from enforcing repossession in certain parts of the UK.

In a statement, the FCA said: "We recognise that repossessions can be difficult and stressful but delaying repossession can lead to poor customer outcomes as a result of increased balances and equity erosion. This is why we propose to allow firms to repossess homes when it is fair and reasonable to do so."

For consumer credit and mortgage consumers, the deadline for new payment deferral applications will remain the 31st of March.

What we can do to help?
Since 2011, we have settled hundreds of cases using the informal approach to dealing with a debt matter in the form of mediation.

This method is now very effective and as long as your adviser has a track record in getting results, is regulated by the appropriate body to represent you in this regard, then we would certainly advise you to consider this approach.

Our proven track record here at GDP Equity Experts speaks for itself. We are fully regulated by the Financial Conduct Authority and over a 9 year period, we have helped hundreds of families, property investors and business owners find the most appropriate and workable solution to their debt related issue.

We take pride in our first-class advice and assistance that we offer to our clients. We will work closely with you from the very start of the process as we know what is expected and how to get you to where you want to go.

It is quite simple; we WANT to hear from you today because we WANT to help you today.