House repossession is a stressful and devastating process where you can lose more than just your home in Stoke on Trent.
If you do not stop house repossession, you are losing the home that you’ve worked so hard to maintain. In addition to losing your beloved home, your credit rating goes down the drain. Once your house is repossessed, your name will be put on the Repossession Registry and you will be reported to all of the credit agencies.
As a result, finding another mortgage will be incredibly difficult. If you do not find a mortgage for another house, your interest rate will be abnormally high.
You can also be pursued by your old mortgage company for up to 12 years for any shortfall that arises after selling your property! For all these reasons, it is vital that you do everything you possibly can to stop your house from being repossessed.
The process of repossession is arduous. It involves court hearing which is never fun. You may even be forcibly removed from your home.
The Process of Repossession:
You are presented with a summons that lists the court dates for the repossession hearing.
On the hearing date several things could happen. Typically, you are given a repossession order. You usually have up to 2 months to leave your home.
After about 2 months, you are given a 14-day notice after which the bailiff can forcibly remove you from your home. This can only be stopped if you are able to pay the arrears right there. Sometimes you have to pay the full balance of the mortgage.
Fortunately, there is a way out. We can help you stop repossession of your house in Stoke-on-trent at any time, therefore, saving you from losing your home. By selling your property to a cash buyer, you can avoid repossession and all problems associated with it. If it is necessary, your cash buyer can produce evidence to the court about the sale in order to stop the repossession process.
We can have the house bought and cash in your hand with a few days( lenders will need to be on board). We can even help you if you have little or no equity in your property.