A Quick Sale Of Your Home Will Stop Repossession

A Quick Sale Of Your Property Will Stop Repossession

It is sad fact of life that we live in an uncertain economic climate, and through no fault of many people, they find themselves in a situation where they may be facing financial difficulty. This may result in additional debts, and perhaps falling behind with various payments. These may include mortgage payments.

Defaulting on your mortgage payments can cause the lender to seek a possession order, all be it as a last resort, to recover their money when they see no other way of resolving the situation.

See the article “How To Stop House Repossession” for more information.

The best advice is to seek professional help at the earliest possible time to commence communication with the lender to present an acceptable plan to the lender to stop proceedings.

However, if you find yourself in a situation where every avenue is exhausted, there may be no other option but to sell your property to prevent repossession.

How you sell is very important. The conventional way, which we have all been more comfortable with, is to sell through an estate agent. The problem is that this way of selling is likely to result in delays, fees, additional repair or “dressing up” costs and uncertainty.

To satisfy the lender, the property needs to be sold very quickly. This is where we can help and indeed specialise.

The advantage of selling to us is:

• We can buy your property very quickly, within 4 to 6 weeks of offer acceptance

• We buy in any area

• We buy in any condition

• We guarantee completion once the survey is satisfactory

Of course, selling to us may not be suitable for everyone as we are property traders and may only be able to offer upto 75% of the valuation price. However, it is worth considering the repercussions of being repossessed.

Repossesion results in:

• Bad credit history

• The sale may not raise sufficient funds to pay all your debts

• Interest may be charged on any shortfall

• In England, Wales and Northern Ireland, a lender legally has 12 years to contact you to begin the process of seeking repayment of a shortfall debt; this period is usually 5 years in Scotland. They must inform you within six years if they intend to do so.

If you find yourself in any stage of difficulty in keeping up with payments, please contact us immediately on 07767 843731 or submit your information via the form so we help. We would be looking to help you sort out your situation without the need to sell in the first instance.

We are not financial advisers, and so cannot give you financial advice. However, we are able to guide you and recommend the right professionals to you and give support where we can.

So don't delay – call today on 07767 843731