Repossession

“What can I do to stop repossession?”

It is an unfortunate fact that there are now more repossessions taking place annually in the UK than ever before.

The effects of repossession are devastating and long lasting. If you find yourself in the position whereby you have been threatened with repossession, consider these facts:

  • Your credit rating will be adversely affected
  • Securing a mortgage or any form of credit again is unlikely
  • You and your family may find yourself homeless

You will be given a number of opportunities to bring your mortgage payments up to date as the Court process can take up to several months to complete. To begin with, you will be summonsed to attend a hearing during which the Court may issue a possession order. If still not resolved after this time, the Court bailiff will then give 14 days’ notice of repossession, which can only be halted if you pay your arrears (or sometimes, the full mortgage loan) before this time is up.

But what if you’re unable to pay even your arrears?

Regardless of whether your home has any equity in it, by agreeing the conditions of a sale with one of our cash investors, you will then immediately be able to obtain a stay of repossession from the Court which will effectively halt the repossession process. Should the Court require the presence of your cash investor at the hearing, this can be arranged.

Rapid House Buyers will work hard to prevent you from losing your home and money through repossession, even if you have reached the actual date of eviction. Provided you have supporting evidence to demonstrate that you have agreed to a cash sale, the process can be halted.

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