Handing back the keys (voluntary surrender)
If a client cannot pay their mortgage, they should not hand the keys back to their mortgage lender. This counts as voluntary repossession and should always be the last resort. If the lender asks the client to give up their keys, they do not have to do this. The lender must have a court order before the client can be evicted.
When handing back the keys, the client is still responsible for costs associated with the property (eg, council tax and utilities) until the property is sold.