What our
customers say

"With recent worries, we really did appreciate the fact the sale went through so quickly and smoothly and the regular communication we received throughout."

Mr and Mrs Gower, Blackpool

"We just wanted to say again how much we are grateful for your help and advice, everyone else said our situation was hopeless but with your help, we are now able to move on with our lives. All the very best"

Mr G Graham,
Bristol

"Thank you for your help in making sure the sale went through on time. We do feel like a weight is off our shoulders."

Mr and Mrs Carver, Lancaster

Stop Repossession 

Stop Repossession / Avoid repossession of my home

Important – We may still be able to help you stop repossession even if the amount you owe is equivalent to the value of your house. You must contact us/fill in the enquiry form urgently to discuss options available to you.

Property repossession is common in the UK. The Council of Mortgage Lenders reported that in 2009, 46,000 households lost their homes as a result of repossession – the highest number for 14 years.

Repossession

Many homeowners have difficulty paying their mortgages, often when they lose a job, split up with a partner or have unexpected expenses. If you're struggling to pay your mortgage, you need to act quickly, even if the problem is only temporary.


First Actions By Your Lender

When you fail to make a mortgage repayment to your lender, your mortgage account falls into arrears. Your lender will contact you by telephone or letter to chase the missed payment. If you are unable to pay or you continue to miss subsequent repayment demands, your lender has the right to start property repossession proceedings against you although they will normally give you the chance to work out a 'payment arrangement' with them first to clear outstanding arrears over a period of time.

Should your mortgage account be in arrears for between 3 and 6 months without any attempt on your part to clear the outstanding debt, then your lender is likely to pass your account over to their solicitors. The lender's solicitor will contact you by letter. They will demand that you repay the mortgage arrears in full within a set period of time. If no settlement is received, they will inform you that they have little choice but to begin repossession proceedings.

The Repossession

The lender's solicitor will issue house repossession proceedings on your home through the County Court. You will be informed by letter of the hearing date, at which time your case will be heard and the court will issue a judgement. If the lender has sufficient evidence that you can not repay your arrears, the court will issue a property repossession order. This will normally state that the lender has the right to repossess your home after 28 days should no payment settlement be reached. If, after 28 days you are still in your property and have not repaid your arrears, your lender will apply for an eviction order forcing you to leave your home. Once you have been evicted, the lender will usually sell your home at auction or through an estate agent.


Stopping Property Repossession

Even after the repossession order has been served by the court, it is not too late to stop a repossession from taking place. We can help you to stop your house being repossessed, even at a later stage, although the earlier you act the better. If you decide to sell your house through Sell Any House - Fast to stop repossession proceedings, we will arrange for our solicitor to deal with your creditors and support you for any Court appearance you may have to make. Contact us today to find out how we can help.

Ten top tips to avoid repossession – extracted from the Shelter website http://www.shelter.org.uk/

1. Speak to your lender as soon as possible to explain your situation – you may be able to negotiate terms which will allow you to keep your home.

2. See if your lender will allow you to:

§ take a temporary payment holiday

§ add your arrears to your mortgage loan, this is known as capitalising your arrears

§ pay off your arrears in instalments

§ delay paying part of the interest on your mortgage for up to two years through the Homeowners Mortgage Support (HMS) scheme.

3. Your lender may agree to extend your mortgage term – this will allow you to make your payments over a longer period of time and will reduce your monthly repayments. But it will also increase the amount you have to repay in the long-run.

4. Rent out the property – if you can, and rent somewhere cheaper. However, there is likely to be a term in your mortgage agreement preventing you doing this unless you get permission from your lender. Another option could be to rent outa room in your home.

5. Sell the property – if it is possible to sell the property to pay off the debt, this might be an option for you.

6. Change your type of mortgage – you might be able to switch to an interest-only mortgage. This may reduce your monthly repayments. But it is only worth doing this if you are able to manage the new payments.

7. Turn up to court – if your case goes to court make sure that you turn up – even if you think that your situation is hopeless, you may still be able to save your home.

8. Don’t simply hand in the keys. This will not solve your financial problems and you will still be liable for the mortgage.

9. See if you are entitled to any benefits which may help you, such as support for mortgage interest.Also avoid borrowing more money if you can, as this may only make your problems worse.

10. Get legal advice – make sure that you seek advice well before you have to go to court. This will allow you to prepare for your case, and look at your finances in detail.

If you have not been able to prepare for your case in advance, a duty advice scheme operates in most courts, where advisers are able to offer you free representation. Make sure you turn up early to court, and bring all relevant documents with you – such as correspondence with your lender, and details of your income, which you will need to show in order to show the court what you can pay.