Repossession occurs when a person defaults on their mortgages. Typically, this would happen two or three times before the lender takes action. Repossession can be a harrowing process for property owners. They often feel like they have no place to turn.
Without the right assistance, repossession occurs & the buyer loses the property. It is now in the control of the lender. The lender has the legal authority to sell the repossessed property. This will usually start with a lender chosen estate agent. More often than not, a repossessed property will go to public auction. Typically, the property will be sold for below market value. Lenders wish to recoup their loan & so are keen to secure a quick sale. However, property owners are still responsible for any shortfall of the sale.
Help After a Repossession
Immediate Bank Claims can assist even in the case of a completed repossession. Immediate Bank Claims has a decade of unrivalled experience in this notoriously complex issue. We offer independent & impartial assistance to clients who have lost their properties. Has your property been repossessed? Don’t delay any further.
Compensation for Property Lost to the Bank
Immediate Bank Claims can qualify clients who have lost properties to the bank for compensation. There is help available after repossession for property owners.
This can be achieved in circumstance such as when lenders did not follow regulations or protocol. We can also assist property owners who have already lost properties after repossession from protecting other assets. In the case of an enforced repossession, you may feel without options. However, all is not lost. Immediate Bank Claims are on hand to qualify you for compensation. We can also protect other assets from loss. We can help after repossession.
Call Immediate Bank Claims on 0207 127 6536 for help after repossession.
After Repossession in the Press:
The charity Shelter give their advice for what to do after repossession: