WORRIED ABOUT REPOSSESSIONS? WE CAN HELP YOU!
It is far too easy to bury your head in the sand when you have money worries, especially when your lender or freeholder is threatening repossession. Although it is never too late to stop repossession, it is far easier to deal with matters early.
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Your options will depend on:
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What type of mortgage you have
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How much your mortgage is in arrears
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How much your property is worth
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Your reasons for late payments
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The time to act is now.
We offer all of our new clients a free and no obligation initial consultation so call us today for useful and proactive advice on 0151 305 4821 or complete the form on this page and one of the team will contact you to discuss how our service may be able to help you.
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Preventing Court Action
As a homeowner, your lender generally has to prove to the courts that repossession is the final option open to them. Your lender will have had to follow the pre-action protocol. If you lender has not satisfied this protocol, it may be possible to stop this action before the court date. It is recommended that you do not ignore any letters and more importantly you keep a record of all correspondence including keeping a log of any telephone call, with a brief note of what was said or agreed. You may need this information when attempting any negotiations!
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If you have recieved your first letter from your mortgage company
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Don’t ignore this letter, but Do Not Panic either!
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It is important to keep your lines of communication open with your mortgage company. Ignoring these letters may give your lender the impression you are not concerned about the arrears and this may concern them! We recommend writing a letter to your lender to gain yourself a breathing period while you explore the various options open to you. At this stage we recommend you speak to an independent financial advisor, regulated by the ‘Financial Services Authority’ (FSA).
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If you have received a solicitors letter
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It may be time to seek legal advise from an independent solicitor, regulated by the ‘Solicitors Regulation Authority’ (SRA). It is normal for the letter to give you a final demand for payment, typically 7 days. It is also likely that they will suggest a proposal if you cannot meet the full arrears amount.
If you have received a solicitors letter
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If you have been unable to stop your lender from starting court action this does not necessarily mean that you will lose your home. You are still able to negotiate with your lender right up until the court date. Your lender or their solicitor should be open to receiving any proposals which may help them postpone the court hearing. Again we would suggest you get an independent solicitors advise, regulated by the SRA.
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IF YOU ONLY OPTION IS TO SELL YOUR PROPERTY, WE WILL PROVIDE YOU WITH AN HONEST, TRUSTWORTHY AND TRANSPARENT SERVICE, AT NO COST TO YOU AND WITHIN 10 DAYS.
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FOR REPOSSESSION ADVICE, CALL OUR SPECIALIST TEAM TODAY ON 0151 305 4821
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FAST, RELIABLE & DISCREET
If you need to sell your property fast, contact PropertiesBought4Cash today