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How To Stop Your House Being Repossessed

The thought of house repossession can be really scary, but all is not lost. You still have options.

We explain the process below and have pulled together some suggestions so you can make the right choices for your individual situation.

Quick Page Navigation

  1. The house repossession process
  2. Steps to avoid repossession of your home
  3. House repossession advice
  4. We can help with a fast sale & cash offer
  5. FAQs


The House Repossession Process

House repossession is a last resort. If you let your mortgage lender know you’re struggling as soon as possible then they should be able to assist you in putting steps in place to get you back on track. Communication is key when it comes to keeping your home. Don’t ignore your lender. They will help you as long as they know the facts. Trying to pretend that your financial situation isn’t as bad as it is could result in legal action and you might lose your home.

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Steps To Avoid Repossession Of Your Home

If you’re struggling to make your mortgage payments then there are a few things you can do to avoid repossession:

  • Become stricter with your finances – you might feel that your money is all spoken for, however, if you make a list of your expenditures each month, you’ll be surprised at some of the little, non-essential, items that you could really cut back on. Over the course of a few months you’ll notice a difference.
  • Get expert advice –  although you won’t have additional money to pay for legal services, it is possible to get some advice for free from various experts. There are a few charities who can give you relevant information as well. Depending on your situation, you might be eligible for legal aid so look into that before considering any other options.
  • Check if you’re entitled to benefits – if you’re struggling to re-pay your mortgage because you’ve lost your job or your health has affected it, then you may be entitled to certain benefits. Although the amount you’ll receive might not cover your mortgage re-payment, it will help to take a bit of the pressure off. It is worth noting that some benefits will qualify you for Support for Mortgage Interest (SME) which will help with your mortgage repayments.
  • Talk to your lender – when you miss a mortgage payment your lender will call you. It is at this point that you should explain your situation and tell them that you’re struggling. They will work up a ‘payment arrangement’ between you and your creditor. The lender will only start legal proceedings if you fail to make any of the amended repayments for the next 3-6 months.
  • Sell your house quickly – if your financial situation looks unlikely to improve then it might be worth considering selling your house quickly for a cash sum. Although this isn’t ideal, it will enable you to receive a lump of money and you’ll stay in control of the sale. You can do this via a traditional estate agent, however this may take a long time. Alternatively, you can use a quick cash buyer like us. Although you’ll get slightly less than the market value of your property, you’ll receive a fair cash sum and we’ll will work to your timescale. In addition, all legal fees are included so it won’t cost you a thing. Providing you have equity in your property, the money you’ll receive from the sale will pay off your mortgage arrears and the rest is yours to keep.


House Repossession Advice

Only seek legal advice from a professional. Although we are able to point you in the right direction, we would suggest that you do your research first in order to make the best decision for you.

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We Can Help With A Fast Sale and Cash Offer


We’re property buying experts. We help people in a variety of situations to get a fair cash sum for their property. Even if you are facing repossession, as long as you have equity in your property then we could be an option for you. We’ll enable you to re-pay your mortgage arrears and whatever money is left can help you to start afresh elsewhere.

Why choose us?

  • We can offer you a fair cash sum
  • We can complete in a timescale to suit you
  • All legal fees are included in the service so there are no hidden costs
  • You’ll rescue some equity from your property that won’t be taken by your lender
  • We can help you move house
  • Our team of experts offer advice and support throughout the process


FAQs

  1. Q: What happens to my mortgage debt after repossession?

    Speak to your lender if you have any specific queries regarding your arrears. Each lender is different so they will be able to talk to you about your individual case. If you sell your house via a quick cash buyer then part of the lump sum you’ll receive will pay off your debt and the rest is yours to keep.

  2. Q: Does my house being repossessed impact my credit rating?

    Yes. This is because you have defaulted on payments. You will have to work towards boosting your credit rating if you want to get a mortgage or loan again in the future.

  3. Q: How long does a house repossession take?

    Around 28 days, but the judge could stretch this to 56 days, depending on your circumstances. The court order will let you know the exact date you are expected to leave the property, as decided by the judge. A possession order will be granted if the judge decides that your home should be repossessed.

  • We buy any house, in any location, in any condition & of any size
  • Get a guaranteed quick sale as we're cash buyers
  • We cover all the legal costs, including the solicitor fees

Want to get a valuation on your home? All you have to do to get started is give us a call on:

0800 024 8444
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5 simple steps to having your property sold!

Our quick (but thorough) 5 step sale process means we can buy your house fast and at a great price

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    Check to see if your property is eligible check now

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    Receive an offer from us within 24 hours

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    We’ll visit your property & formalise our offer

  • 04.

    We’ll instruct solicitors and pay all fees

  • 05.

    Exchange contracts & complete as usual

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Independent reviews of our service from reviews.co.uk

4.83 Average

392 Reviews

2 sycamore

Very efficient and professional, no problem regarding communication, would definitely recommend!

Posted 5 days ago

Mr Spurling

Having phoned the company I spoke to ADAM who was very helpful and arranged an appointment for Patrick Woods to view the property on 6th June...he was also very helpful...and gave me a briefing on the company procedure....with some advice and an offer to purchase the property...I did not feel pressured but did feel confident in the company..... Adam followed up telephonically and we discussed the situation...and I raised a few queries of my own.... As I have various personal issues it was left to me to get back to the company as and when I wished to go ahead.. I would certainly like to thank bother Adam and Patrick for their efficiency and kindness..

Posted 1 week ago

25 poplar avenue

Justine was fantastic to work with, very professional and efficient, would recommend and work with again. Nick from Sharman Quinney, Peterborough

Posted 1 week ago

Gothic House

Communication was always very good, Justine Middleton was a pleasure to deal with. Thanks again

Posted 1 week ago

15 Ferndown

Great communication throughout. Easy to deal with. Helpful and friendly along with professional standards.

Posted 1 week ago

Why sell your house to us?

We’re one of the leading buyers of residential/commercial property and land in England and Wales. We buy using our own cash facility meaning we can offer the best prices in our industry and complete the sale quicker than anyone else.

Your options Average sale length Typical cost to you
The Property Buying Company 2-3 weeks £0.00
Other House Buying Companies 2-10 weeks £1000
Property Auction 6-10 weeks £2500-£5000
Online Estate Agents 16-52 weeks £1000(upfront)-£5000
Estate Agents 16-52 weeks £5000

Unlike most of the other options available to you, we are not a broker or middle man, meaning you skip the fees and get a sale quickly and easily.

The Property Buying Company is registered with the Property Ombudsman and is a member of the National Association of Property Buyers

National Association of Property Buyers The Property Ombudsman
500+

Properties bought by us for cash in
the last 2 years

£61,554,000

Of our own money spent buying
property for cash

2-3 weeks

Average time taken from initial offer
to completion