STOP HOUSE REPOSSESSION

If you are behind your mortgage payments by more than 2 months and the mortgage lender has started threatening you with legal action, then please take them seriouslyIf you feel you are in a situation that no financial solution is available with the mortgage company then do look to sell your property yourself before they take the drastic step of repossessing your house.

You do have some options:

1-You can discuss your present financial situation with them and come to some arrangement 2-Unfortunate option is to sell. Please remember the mortgage company will want the money you borrowed from them, the problem will not go away, by not acting quickly you could lose everything.

Once the mortgage company repossesses the house then the chances of any equity in the property left for you for a deposit for another house will be very slim. The mortgage company will place your house with one of the auctioneers e.g you borrowed £180,000 the house is worth £225,000 all the mortgage company is concerned with is collecting £180,000 that you borrowed. The buyer at the auction has found a bargain property at your expense for £180,00 and you are left with nothing not even a deposit for another house. To make matters worse you will find it extremely difficult to obtain another mortgage especially in the current market ,where lenders have become very strict with their lending policies, as repossession are rising year by year If you sell privately and avoid the state agent fees and manage to sell at £190,000 with no legal fees or any other expenses you still have a £10,000 deposit which can go towards your next property

You do not have to move out of your property you can sell to us and rent back your house