Home Repossession Solutions for UK Homeowners

The economic downturn is not yet over and unfortunately, many UK families are seeing their homes repossessed, as they struggle to make the mortgage repayments. There was once a time when home repossessions were exclusively for those who decided to opt out of the system, yet today, anyone – and everyone – is at risk of having their home taken away from them. All it takes is a few missed payments and the lender is then entitled to initiate repossession proceedings, and within a few months, you can be looking at the harsh reality of being homeless.

A Practical Solution

If a person is unable to keep up their mortgage repayments, they might think there’s nothing that can be done to stop repossession, yet there is one specialist UK company that will actually buy the property from you and clear your debt with the mortgage lender, and whatever is left after that, will be deposited in your bank account.

Three Simple Steps to Avoid Repossession

First, make contact with the specialist home buyer company, who can be found with an online search, and they will make you a free offer to buy the property within 24 hours, that you are not under any obligation to accept. Providing you are happy with the cash offer, the home buying company will instruct a solicitor to act on your behalf (at no cost to yourself) and the legal expert will then liaise with the mortgage lender to avoid repossession. Once all the paperwork is complete, the cash will be released and the sale concluded, which allows you to move on without the stress of having debts or county court judgements in your name. It really is that simple!

Stopping a Repossession Order

In the event the mortgage lender has already initiated county court proceedings to repossess a property, you can still intervene, and as the lender’s goal is to resell the property and recover the debt, they will have no problem if you manage to find a cash buyer. In fact, they will welcome the move, as it gives the lender the desired outcome, and more often than not, the borrower comes away in a much better financial standing than if the house was repossessed.

Unable to Find a Buyer

It might be that you had the foresight to put your house on the market, hoping for a quick sale, yet it is a buyer’s market at present, which makes is very difficult to find a buyer at short notice. If your home has been on the market for some time and the mortgage lender is taking legal steps to repossess the property, this is the perfect time to contact a specialist home buying company, who can make you a cash offer on the property within hours.

If you are about to lose your home because you can no longer afford the mortgage repayments, all is not lost, and with an online search, you can be talking to someone who can make a cash offer for the property and also deal with the lender at the same time, taking away the stress that such a situation invariably brings.

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