Repossession Advice

Don't Let Them Take Your Property

The Repossession Stopper can help you to stop an impending eviction, whatever stage of the process you find yourself in:

If you have missed mortgage or loan repayments and fear repossession - We can help!
If you have received a court date, it is not too late! - However if you do not act quickly then you could find your home being repossessed!
• Even if you have been to court and have already handed over the keys to your home, as long as the property has not yet been sold then it is not too late to stop your repossession!

Repossession Advice

The Repossession Stopper can arrange for you to get the latest up to date repossession advice. If you are faced with the threat of repossession it is important to seek professional assistance immediately. Depending on your current circumstances, and in particular, the available equity in your property, the process of home repossession can be prevented if you act quickly. In many cases, fast and decisive action can prevent unnecessary legal bills, court intervention and ultimately, repossession of your home. We have provided a little bit of general repossession advice below to give you an overview of the repossession process it is however important to get professional repossession advice, The Repossession Stopper can put you in contact with a professional today, click here to complete our short enquiry form.

In many cases where a borrower starts to experience difficulty in meeting their mortgage or secured loan payments, it would be sensible advice to approach their lender at the earliest possible stage. Many problems will simply be left to escalate if they are not dealt with in the early stages.

Many mortgage lenders will only consider property repossession as a last resort – when all other avenues have been explored. This legal remedy is pursued in order to recoup any outstanding debts in the quickest possible time.

In the early stages, the lender may be prepared to arrange a payment plan, whereby any outstanding arrears are cleared off over a set period of time – this will usually take effect by way of an increased monthly mortgage repayment. The other options available will depend on the most part to do with:

• The type of mortgage that you have
• The level of the arrears and how far behind you are with your repayments
• The reason(s) behind falling into arrears in the first place – For example, loss of work, sickness etc)
• Your ability to meet your future repayments
• The current term of your mortgage

It may be possible, as a short term solution, to reduce a borrower’s monthly mortgage repayments until they are able to get their finances back on track. This can be achieved by reverting their repayment mortgage (where applicable) to an Interest Only mortgage, or extending the term of the mortgage – these two remedies will of course not be possible in every case and it will always be subject to approval by the lender.

Another solution to averting the threat of repossession is to switch lenders by arranging a remortgage. This is achieved by clearing the mortgage balance and outstanding arrears – starting a new with a different lender. This will be subject to a number of factors as to whether you would be eligible. If you would like repossession advice and to find out the more about the possible options the repossession stopper can put you in contact with professional repossession advice, click here to complete our short enquiry form and speak to a professional today.