If repossession is a very real threat, and if you cannot afford to pay your arrears as well as your
current payments then provding you have enough equity, selling your home is the perhaps the best option.
If your home is repossessed your mortgage lender will sell your home, usually via auction, and for whatever the market will pay. If you have
second or third charges on your property you may still owe money after your lender sells your home. Even if the lender sells your home and
you are due to receive the balance, by allowing repossesion you are effectively out of control of the sale process and you wait
months to receive your money. During that time any further debts could be escalating along with penalties and charges.
If you make the decision to sell your home and pay off your debts, the positive side is that you will remain in control of the
process, and to some degree you can control the price and who your home is sold to.
Selling Your Home
Selling your home can take many months - you may not have enough time to sell on the open market
Start the process as soon as possible
Make sure your buyer really has the finances in place to complete the sale
Be aware that offers are not legally binding in England & Wales and your seller could pull out at any time
Tell your lender, and the Court if necessary, that you are selling to pay off the debts.
What Are My Options?
Time is the one luxury you may not have. But selling your home can still be an option.
You Can Stop Repossession Now
By any of the lenders listed below - Act now - Contact Us
A national cash property buyer, Cash For My House offer ethical Sell & Rent Back Services
that can also include Buy Back Options and Fast Property Purchases.
They also provide a Free Home Valuation Report.
