Bailiffs could be have your keys in three months

Here is a step-by-step guide to the repossession process:

Written warning: When you miss payments, your lender will ask you to pay back the arrears. If you do not, it should write to you, warning that it will apply to your local county court for a possession order. They are under no legal obligation to write before starting court action.

Court summons: If you do not respond to your lender's written warning, it will apply for a possession order and must provide evidence of the arrears. Provided it can do this, the court will issue a summons informing you of a hearing. This must be no less than 28 days from the issue of the summons and tends not to be delayed much longer.

Hearing: At the hearing, the judge will hear evidence from you and your lender or freeholder before making a decision. The court may adjourn the case, strike it out or - quite likely - allow you to stay in the property provided you keep to conditions, such as repaying in instalments. Otherwise it may give you time to sell, or decide that you should be evicted.

The court order: If the judge decides on repossession, the court order will set a date for you to leave. This can be no less than 14 days after the hearing - and is typically around six weeks after it.

The bailiffs: If you have not left by that date, your lender must apply to the court for a bailiff's warrant. The bailiffs will write to tell you when the eviction is to take place, and when they come, they can remove you from your home. A warrant takes between 14 and 28 days to be issued. Some lenders apply for the warrant straight after the hearing.

Afterwards: Once your lender has sold the property, it will take what it is owed from the proceeds, along with any fees. If money from the sale is not enough to repay what you owe, your lender will bill you for the shortfall and may go to court to force you to pay.