Are you facing the prospect of your home being repossessed?
We are able to help you by offering to purchase your property from you at short notice.
If in the event that the bank repossess your property then you will be left with very little money no matter what equity you may currently have in the property. Not only that your credit rating will be destroyed such that getting credit such as a mortgage in the future will be extremely difficult.
We are able to help you, depending on the particular property and circumstance it is possible that we could purchase your property from you very quickly to save the repossession from occurring. We could then support you short-term in one of our buy to let properties until you have found your feet again.
The seven steps of repossession are as follows:
- Your lender writes to you about your mortgage arrears
- Your lender applies to the court asking for a possession order
- The court then writes to you to advise you of the hearing date
- In the court the judge hears the repossession case and makes a decision
- The court makes an order for repossession of the property and sets a date (often 28 days)
- On the due date, if the property is not vacated Bailiffs are sent to remove you from your home
- Your lender now has retained ownership of your home and it is sold, usually at a reduced price at auction
In the repossession process it is very likely that you will have to pay the following:
- Court costs
- Bailiff costs
- All outstanding mortgage interest charges
Please note that repossession is avoidable and there is action which you can take at each step to prevent it occurring.
We do not want you to get repossessed, we can help you before it happens.