Repossession can happen to anyone at any time, situations rapidly spiral out of control. If you are about to be repossessed it can be a very traumatic time for you.
Home repossession can occur as an action of last resort by mortgage lenders to recover money from borrowers that have failed to keep up with repayments on their mortgage or other loan secured on their home. Unfortunately, not only will you lose your home, your name will be added to the Possession Register and the major credit reference agencies will be notified which will adversely affect your credit rating.
After this it could be very difficult for you to obtain any further finance, such as another mortgage or bank loan, for many years. To add to this, once the lender has repossessed the property, if they then sell it on for less than you owe, they may still hold you accountable for the balance of the debt.
Stop Repossession Help
However, home repossession is not triggered as a result of one missed payment. Lenders (mostly banks and building societies) will usually wait until mortgage arrears reach 2-6 months before looking to take such action.
All is not lost, there is help available. With Immediate Bank Claims we do have other solutions and can stop your repossession within hours.
If you have negative or zero equity in your property, we can still provide you with a credible solution.
Contact Us for Immediate Help and Confidential Free Consultation!
Stop Repossession Immediately in the Press:
Gov.co.uk give their advice for stopping repossession: