The fastest, simplest and most convenient way to sell your home
Stopping your house repossession
With interest rates on the rise and the cost of living climbing sharply, we are seeing a high number of homeowners facing repossession. The North West ranks as the nation’s property repossession hotspot in terms of the sheer volume of homes repossessed
| This table shows the total value of homes repossessed over the last 12 months based on the number and average value of a repossessed property. | |||
| Location | Total Annual Repossessions | Average Repossession House Price | Total Value of Annual Repossessions |
| London | 306 | £392,886 | £89,071,382 |
| South East | 312 | £285,485 | £89,071,382 |
| North West | 495 | £98,384 | £48,700,082 |
| Yorkshire and the Humber | 289 | £105,543 | £30,502,046 |
| South West | 166 | £171,365 | £28,446,537 |
| North East | 335 | £78,379 | £26,256,908 |
| West Midlands region | 179 | £144,158 | £25,804,352 |
| East of England | 91 | £215,183 | £19,581,656 |
| East Midlands | 143 | £134,558 | £19,241,775 |
| Wales | 160 | £114,008 | £18,241,280 |
| England and Wales | 2,476 | £173,995 | £426,069,040 |
Are you looking at stopping house repossession?
Facing repossession can be very stressful and makes you want to bury your head in the sand to hope it all goes away, this is the worst thing you can do. If you are stopping house repossession you need to act quickly and decisively.
Repossessions are caused by failure to keep up repayments on your mortgage or other secured loans on your property, which are caused by excessive borrowing, losing your job and not being able to keep up with the repayments.
Here at Home House buyers, we can help stop a repossession order or an eviction warrant, simply Repossession Process.
Depending on what stage of the stopping house repossession process you are at will depend on what action you should take, the main advice we can give is to contact your lender immediately to try and negotiate a repayment strategy.
Here are few stages of the repossession process:
Court Hearing For Repossession
If you have received a letter of an intended court action or the letter is a court hearing date, this has now turned serious and you are facing repossession and at risk of losing your home.
You will of received this letter if you have multiple mortgage areas and the lender usually takes action after the third missed payment. That’s when they can ask the court to issue a possession hearing.
The main aim of a possession hearing is so the lender can gain possession of your property to redeem back its lending.
During the hearing, the lender’s solicitor will present evidence of your arrears, the outcome of the hearing will all depend on your defence that’s why we suggest a solicitor when stopping house repossession.
The most favourable outcome for the defendant would be a suspended possession order which will give you usually 28 days to get their affairs in order i.e try to clear the balance.
Vitally, you will be much better off by gaining the maximum period of time, over which the “suspended order” can run. This can allow you more time to; arrange suitable temporary accommodation, sell your property at an appropriate price on the open market, find suitable/more affordable rented property or in fact, work within an affordable overpayment plan, (a formal “Financial Arrangement”), to let you bring the account up to date, over a longer period, thereby allowing you to retain your home.
Eviction Notice
If you receive an eviction notice the bailiffs will be at the house on that particular day which you are required to be out, the bailiffs have the power to remove you and your family out of the property and anybody else living there.
The Bailiffs will change the locks and it’s now the property of the lender so you have no right to be in the property and stopping house repossession will be too late.
Stopping house repossession, if you do receive an eviction notice it’s never too late to stop it from happening even at this stage, this is a horrible situation for any homeowner, but we can help.
If you have been served an eviction warrant or if you have an eviction date you should contact us immediately and we will help you obtain a county court hearing by completing form N244.
Judges are keen to avoid a house repossession wherever possible.
We can help you complete the form and provide valid reasons with plausible timeframes by which debts and arrears can be settled to help the stopping house repossession process.
Even if you have previously served an N244 form and successfully prevented your house from being repossessed before, this does not prevent you from serving the form again. However, if you have served an N244 form previously you will need a convincing argument to persuade the judge to suspend the eviction again.
Mortgage Arrears
If you miss any repayments to your mortgage or secured loan you’ll be in a vulnerable situation to them taking further action.
If you only miss one payment this isn’t a big issue to the lender as you can come to some sort of arrangement and spread the cost over a few months but if you don’t contact them and just keep up with your repayment you’ll always be one payment behind and if you miss another you will be vulnerable to repossession.
When you start to miss multiple mortgage repayments this is when the lender will take immediate action to try and cover its position and get possession of its asset, stopping repossession is still possible at this point.
Will I get any money if my house is repossessed?
In the majority of cases you may actually end up owing money. By the time the lender has sold your property and taking all fees and penalty payments into account. A repossession will also have a negative effect on your credit score. Lenders will now see you as a higher risk. According to Experian, a repossession remains on your credit score for 7 years.
Can I avoid repossession by selling my property first?
Stopping house repossession is possible when you use Buy My Home Today. We have over ten years experience with dealing with stopping house repossession and have helped many people avoid repossession. The first step is to call a member of our team and discuss what is the best option for you. There will need to be equity in the property for us to be able to purchase the property from you.
Contact our office
You can call a member of the stopping house repossession team on 0800 6121 366. We also have a list of helpful advisers below.
We will come back to you with a ballpark figure and that fits in with what you need to achieve then we will book in an appointment for one our regional evaluation team will then put forward a confirmed cash offer.
Instruct solicitors
All our solicitors specialise in stopping house repossession. All you need to do is fill in your paperwork and send it off, we do the rest.
Pick a completion date
You need to then pick a completion date which suits you. you have up to three months to pick the date but we advise that you work towards one that allows us enough time before the property is due to get repossessed.
Move into your new Property
We can help you arrange your onward move. If you are a bit strapped for cash then we can look to lend you some of the proceeds of the property in order for you to find a rental property. Stopping house repossession is our speciality, so just give us a call for a free cash offer 0800 6121 366.
When you are stopping a house repossession, do you buy any kind of house?
Yes, as cash buyers we can buy any house. We buy semi-detached, detached, terraced houses, flats and bungalows. We often get many people asking if we can buy ex-council houses and again the answer is YES. We can even buy non-standard construction properties including wimpy no-fines and other construction types. If you want to know more than you can just give us a call to speak to a member of our stopping house repossession team today.
When you are stopping house repossession, do you buy houses in poor condition?
Again the answer is yes! As we are a cash buying company we can complete in a matter of days and it doesn’t matter about the condition of your property. Over the years, we have bought houses in all kinds of condition from those needing a full-scale refurbishment project and also those that are fire damaged.
We can even buy your house if it has damp, dry rot and even those with structural issues such as subsidence. We don’t use mortgages to purchase your properties so we can buy any house in any condition.
We speak to many looking at stopping house repossession and the best thing to do is not leave it too late. We can help no matter the situation as long as there is enough time for us to purchase the property. We can also help you to sell commercial property fast as we also buy most types of commercial units from shops, offices and even public houses just call us on
Stopping House Repossession Organisations:
UK Government Website
FREE INDEPENDENT REPOSSESSION ADVICE FROM THE UK GOVERNMENT.
Citizens Advice
THE ADVICE GUIDE WEBSITE IS THE MAIN PUBLIC INFORMATION SERVICE OF CITIZENS ADVICE, PROVIDING PEOPLE WITH ROUND-THE-CLOCK ACCESS TO CAB INFORMATION ON THEIR RIGHTS.
National Debtline
A FREE, INDEPENDENT AND CONFIDENTIAL DEBT ADVICE SERVICE RUN BY THE CHARITY MONEY ADVICE TRUST.
Shelter
SHELTER IS A CHARITY THAT WORKS TO ALLEVIATE THE DISTRESS CAUSED BY HOMELESSNESS AND BAD HOUSING.
Your Local Council
FIND THE CONTACT DETAILS AND WEBSITE FOR YOUR LOCAL COUNCIL.
Step Change
FREE ADVICE ON PROBLEM DEBT BASED ON WHAT’S BEST FOR YOU.
Pay Plan
FREE DEBT MANAGEMENT PLANS, IVA’S AND DEBT ADVICE.
Payment Plan/ Financial Arrangement
When you agree to spread the arrears over a few months on top of you existing repayments this is when a lot of the time things go wrong and homeowners struggle to keep up with the new repayment plan. If the plan has been granted through the court possession order proceedings and you fail to meet the repayments the lender doesn’t have to go back to court they simply have to make an application for an eviction order and stopping house repossession becomes more difficult.
Private Sale
This is the best option of getting the best price for your property, if you are struggling with the repayments and repossession is looking imminent then speak to your lender to try and get some sort of agreement in place where you explain you’re in difficulty and you’re trying to sell the property. This will be the preferable route for your lender, but you need to be a motivated seller with a realistic price to sell and to get help stopping house repossession.
Auction
Stopping house repossession and going through a private sale this is the quickest and simplest way to sell your property. Be aware though that auctioning your property there are auction fees and solicitors costs to pay and your property will more than likely sell below market value.
Quick House Sale Companies
Choosing the right company is imperative there are lots of fast house sale companies out there and a lot of them aren’t what they purport to be.
Do your research on these companies and ask them whether they are buying your property or selling on to an investor, don’t be afraid to ask for proof of funds which will ensure they are buying it and not acting as a middle man. Stopping a home repossession can put you in a vulnerable position so make sure you choose the right company that won’t take advantage of you.