How To Stop The Repossession Of Your House

symbolic auctioneer with gavel and house model

It is a situation in which no one wants to find themselves: you are facing repossession of the home you have saved for, that you have lived in, that you have raised your family in or made community ties in. The home that you likely dreamt of for years before it was a reality. And here you are, contending with the very real – and perhaps imminent – loss of it.

If you are behind with your mortgage and worried about being thrust out of your home, the first step is the hardest: do not panic. You are not alone: unfortunately, many people throughout the UK are dealing with similar circumstances. But what they may not realise is that there are ways to cope with this most difficult challenge. In this guide on how to stop repossession of your house, we will explore some common reasons you may be in this position, as well as your options going forward.

If you’re struggling to keep up with mortgage repayments due to financial difficulties or you’re already in arrears, it’s important to know how you can stop house repossession. Start finding your answers here.

In this article

What is house repossession?

House repossession is when your mortgage lender secures a court order to take over the possession of your home. When you take out a mortgage to buy a property, that lender effectively owns a financial stake in your home – and this decreases over time as you pay off the debt. However, if you begin to miss repayments, mortgage lenders can then take back full possession of the house to sell it, in order to recover monies owed.

The process of house repossession involves court action and bailiffs attending your property to evict you. However, it’s definitely a last resort – repossession usually occurs after three or more consecutive missed payments, and lenders will always try to arrange an alternative repayment plan with you to clear your incurred arrears and costs. The only exception to this are lenders who provide finance to high-risk candidates (those with low credit scores); they will usually take action after two missed payments.

All it takes is a change in your financial situation. It could be that you lost a job or had to reduce your hours. Perhaps you had an unexpected illness that caused you to miss work and become late on bills and payments. Maybe you needed to care for a loved one despite the risk of financial consequences to yourself. There are as many circumstances as there are people who face repossession; it is difficult, but remember, it is not a reflection on who you are as a person. It simply means you are facing a hard time, as are many others.

And again, you are not alone. While the Coronavirus Act (March 2020) and other policies protected homeowners and significantly reduced possession actions during the height of the pandemic, we are already seeing an uptick in claims. For example, government statistics show that mortgage possession claims, orders, warrants and repossessions decreased by 53%, 47% and 57% respectively in 2020. Compared to the same quarter in 2021, however, all of these actions increased by over 100%. By the numbers:

  • Mortgage possession claims grew from 735 to 2890
  • Orders increased from 145 to 2293
  • Repossessions rose from just 3 to 571

Making the situation more dramatic, bailiffs are now working through the backlog of possession actions that built up throughout the pandemic. We can only expect these numbers to increase as we enter the so-called ‘new normal.’ For homeowners facing difficult financial situations, this is far from positive news. More hopeful, though, is the fact that there are steps you can take to stop the repossession of your house.

What happens when your house is repossessed?

If it’s confirmed that your house will be repossessed, or you’ve just found out this is a possibility and you’d like to know how the stages of the process work, you can find the house repossession process outlined below.

Please note that you should continue to propose alternative, reasonable ways to repay your arrears and mortgage to your lender all throughout the repossession process – it’s possible they will agree to a repayment plan at any point up until the day of eviction. Remember, repossession is a last resort for lenders.

Why? Quite simply: lenders are in the business of making money! Not to make light of such a trying issue, but it is nonetheless true. They want you to pay your mortgage; they do not want to be saddled with a property that may not be in optimal condition and may not sell quickly or for market value. The property becomes a drain on their resources, and they want to avoid this. For this reason, yes, repossession is most certainly the last resort for lenders. Fortunately, you can use this to your advantage when it comes to employing strategies around how to avoid it.

Now let’s look at the process involved in possession claims. It starts, of course, with missed payments.

  • Missed payments

While we always advocate making every payment on time, typically being a few days late with a mortgage payment is not grounds for concern. Even being late a month is not usually enough to make a lender move towards repossession. It will, however, get you on their radar. (And of course, they can move towards a possession claim if they choose – typically, it is not in their best interest so they will give you a bit of time to make the payment and get caught up.)

When you miss a mortgage payment, your mortgage lender will then write to you concerning your arrears. If you continue to miss payments, your lender will continue to attempt to contact you about your payments.

You should negotiate at this stage and discuss your circumstances with your lender. You should follow the above advice and attempt to settle a repayment plan that is manageable for both you and your lender.

If the lender rejects your proposals, you’ll be issued with a second warning about your arrears, which will outline their plans to begin court action in order to repossess your home.

Again, the odds that they will accept a repayment plan are relatively favourable, so please do not neglect to take this step. The worst course of action that you can take at this point is to… take no action. While it is understandable that you want to avoid dealing with lenders clamouring for funds you simply do not have, it is important to face it head-on.

Note: when you are making suggestions as to a repayment plan or to get out of arrears with the lender, make sure these communications are written. This will help as you move through the process, as you will see below.

As you will see as you read on, you can stop repossession at any time before eviction. However, during these first days (or months as the case may be) of missed payments, it is imperative to contact your lender. You can often stave off the worst of the process – and the anxiety – if you are proactive here.

One step to consider is selling your house, which we will discuss in more detail in a moment. If you provide the lender with a copy of the listing and marketing materials. Even more favourable, if the house is under offer or sold and subject to contract, you can have an estate agent or solicitor provide a letter with a timeline for exchange and completion.

  • Court Order

What happens if you do not or cannot make payments in a repayment plan or if your lender refuses? Your mortgage lender will apply for a court order to repossess your home. This application will detail why a judge should grant the lender possession of the property, and it costs £325 to submit.

If the lender is not claiming rent arrears, they can apply for an accelerated possession order which costs £355, which would see you evicted even sooner.

It can feel as if the repossession process is moving quickly at this point. It can. This is why it is important to take action, as uncomfortable, emotional, and difficult as it is.

  • Court hearing

You will receive a date in which your case will be heard in court. It’s imperative that you attend, so you can explain to your mortgage lender and the judge the reason for your missed payments, and the proposals you have suggested to the lender.

The judge will evaluate the evidence provided by both you and your lender. This is why it’s important that you have made written suggestions about how to settle your arrears prior to this point, as this will help the judge see that you have tried all you can to remedy your house repossession out of court.

Receiving notice of a court hearing is nothing short of a heart-pounding event. You see the envelope and you are sent into a state right then and there. It’s tempting to shove it under the other post and ignore it. Please do not.

If you do not appear for your court date, you do not have the chance to advocate for yourself. And this matters. You have the opportunity to show the judge that you have written proof of suggestions you have offered to your lender in order to resolve the situation. You have the opportunity, in fact, to resolve this situation so you do not lose your home.

Do not put yourself at legal risk or greater financial risk by ignoring a court hearing date. If you feel you need advice and assistance before then, by all means contact Shelter, Citizens Advice, not-for-profit organisations or other resources for help. But do show up as to not further jeopardise your standing in this matter.

Ahead of your court date, you should fill out the N11M personal defence form. This is your response to the lender’s repossession actions. Amongst the questions are those related to your income and financial status, as well as details regarding any attempts to pay arrears or to make a repayment agreement with your lender. Fill this out to the best of your ability, and don’t be afraid to seek help from a trusted resource (e.g. financial advisor, housing charity official, etc.). It is also advisable to fill in the N244 County Court Form. This asks the court to suspend the repossession process.

Appearing in Court

Despite it feeling that you are very much alone, there are people and systems in place that want to see you retain possession of your home. If you do have to appear in court you should be able to demonstrate that while you may have missed payments, you have acted responsibly by maintaining contact with your lender and disclosing your financial situation. You should also prove that you have looked into and suggested options for repayment and a plan moving forward.

  • Possession order

If the judge rules in your favour, you will have to sign a new repayment agreement – if you don’t stick to this, you will be evicted.

However, if the judge grants the proposed possession order by your mortgage lender, then you’ll usually be given 28 days to vacate the property, but in some cases the judge could allow you up to 56 days. You will also have to pay court costs, which the lender typically adds to your outstanding debt.

  • Eviction

You should leave the property within the allotted time provided by the judge if a possession order is granted. If you do not leave within the allotted time, bailiffs will be sent to remove you. The lender will apply to the court for a warrant to allow the bailiffs to repossess your home by force – if this happens, you’ll receive a written warning about when this is going to occur.

Being removed from your home in this way is frightening and can even be traumatic, particularly if you have children. It is best to avoid this and leave the property within the timeframe given by the court, if it proceeds to that level.

  • The house is sold

Once your mortgage lenders have regained ownership of the property, they’ll sell it to recover the debt. However, until they sell the property, you still have to pay the interest on what you owe.

Once the sale is completed, the lender keeps the money that they are owed and pays you anything that is left over. If the property sale does not cover what you owe, you may have to pay off any mortgage shortfall to the lender.

Accruing fees and interest, as well as payments you cannot afford, is adding insult to injury at this point. Avoiding repossession is crucial as it gives you more options in terms of what comes next. At a time when you feel as if you do not have any control of… well, anything, it is important to sort out what you can so you are not left in dire straits.

Avoiding house repossession

If you fear your mortgage lender is going to begin the repossession process, it’s important to try and prevent this – or to prepare yourself if they do proceed.

If you’ve missed – or are going to miss – repayments, contact your lender as soon as possible. You should do this in writing so you have a paper trail that you can reference back to if you are taken to court.

The repossession of house and property is a costly process for lenders, and, as previously mentioned, it’s the last resort for them. They also have to follow pre-action protocol rules – you can read more about those here.

In short, though, all mortgage lenders must comply with regulations imposed by the Financial Conduct Authority (FCA). There are clear standards around how they are allowed to handle customers, which are called the Mortgage Conduct of Business (MCOB) rules. Under MCOB, for example, lenders cannot dismiss any suggestions for repayment or resolution of the situation out of hand. They must consider all reasonable attempts to deal with arrears.

Don’t ignore their calls and letters, in most cases, if you explain your situation, lenders will try to negotiate a way for you to catch up on your arrears and avoid house repossession entirely. There are things you can ask from your lender, such as:

  • Extending your mortgage term
  • Change your mortgage type
  • A payment holiday (a break from making payments)
  • Reduced payments
  • Capitalising the arrears (adding them to your total mortgage amount)

Again, they must consider these options. This does not guarantee that you will be granted any relief by the lender, but it does give you some level of protection. You have rights under the law, and lenders cannot bully or pressure you. According to the FCA, they are required to:

  • Make reasonable efforts to arrive at a viable agreement over payment arrears.
  • Liaise with a third-party source regarding your payment shortfall (this third party will provide advice).
  • Allow you to make up a shortfall in a reasonable time period.
  • Explore the possibility of a payment plan.
  • Consider your request to change the mortgage payment date or method.
  • Allow you to remain in your home for a reasonable period in order to sell the property.
  • Repossess is only the last resort if all other reasonable attempts should fail.

You will notice that the word ‘reasonable’ comes into play often here. If you feel as if your lender is not being reasonable with you as you face repossession, we strongly encourage you to contact their head office to file a formal complaint and contact the Financial Ombudsman to investigate the matter further (0800 023 4567).

If you do make a plan for repayment with your lender, be sure that you are able to comply with all of the new and updated terms.

Delay or Avoid Court Hearings

The pre-action protocol rules that we mentioned protect homeowners to some extent. Your lender may not start court proceedings under the following circumstances:

  • You have filed a valid insurance claim through your mortgage payment protection policy. This policy covers against unemployment or sickness.
  • You applied for Support for Mortgage Interest (SMI).
  • You are working with your local council to receive Preventing Repossessions Funds.
  • You demonstrate that you can pay your arrears and get current.
  • You are receiving assistance from your local council to prevent homelessness.
  • You are working with the Department for Work and Pensions in schemes for income support, income-based Job Seekers Allowance, Pension credits, tax credits, income-related employment and Support Allowance, etc.
  • Your income has stabilised and/or improved (e.g. you got a new job).
  • You are planning to rent your home (with consent from the lender).
  • You are working with a professional debt advisor.
  • You have complained to the Financial Ombudsman Service regarding the way your lender is interacting with you about your debt.
  • You are taking steps to sell your home.

There are ways to avoid repossession; taking a step here can help you move forward on surer footing.

Other Resources to Access

If you’re uncertain about how to stop home repossession, speak to a legal or financial advisor – they’ll be able to help in figuring out the next step. You should also speak with a housing charity or not-for-profit; a free call can give you access to impartial – non-judgemental – information that can assist you in making a decision or a plan.

Please consider accessing help and resources through:

  • Receive free online advice, support and guidance. There is a hotline that is operational 365 days a year (0808 800 4444), as well as an emergency line (0808 1644 660).
  • Citizens Advice. They offer a host of invaluable online resources and tips.
  • National Debtline. This is a great resource for education and advice regarding money issues. They are open six days a week (excluding Sunday) at 0808 808 4000, and they have a wealth of information online.
  • Debt Advice Foundation. Receive confidential advice and guidance about loans and debts at 0800 043 4050. (Also open every day except for Sunday).
  • The Money Charity. You will find online resources around debt and budget management.

If you can prevent repossession or stop it from being a catastrophic blow to your finances, then it is well worth spending some time online and on the phone with these knowledgeable resources.

Voluntary repossession of house

Another option to avoid a full repossession is a voluntary repossession – though this still involves handing over your property to your lender. This option avoids court fees and sometimes means you can stop making mortgage repayments, as when your house is repossessed, you are still liable to pay the interest on your debt until the lenders have sold the property to recover their costs.

Again, while you still lose ownership of the property, voluntary repossession may take a great deal of the financial burden off of your shoulders and allow you to move on more quickly – and less expensively. This is another issue that you can discuss with a financial advisor or housing charity.

Voluntary repossession of house

It can be worrisome when a house repossession order has been placed on your home – but it is possible to avoid repossession, even right up to the day of eviction. It’s never too late to take action, as it’s not particularly profitable for your mortgage lender to resell your home.

Whilst it is an emotional, stressful and even frightening time, it is important to be proactive. There are steps that you can – and should – take. If you need assistance, please reach out to a not-for-profit organisation that specialises in these matters or speak with a financial advisor who can offer guidance at low (or no) cost. Do not give up. Instead, explore your options, gather all of the information you can and make the best possible decision for your circumstances.

Now then: if you are seeking out information on how to stop the repossession of your house, start here:

  • Talk to your lender

In line with pre-action protocol, your lender has to give you the opportunity to talk with them outside of court. They should allow you a fair amount of time to sell your house, or to arrange another way to pay – even if your lender is already applying to the court for repossession, you should still follow the options listed under “how to avoid repossession of your home” above.

To try and stop house repossession, ask your lender if you can change the type of mortgage you have, extend it or reduce your payments. If you can prove that this will then allow you to keep up with repayments, lenders will consider all reasonable options. There’s no harm in writing up a new mortgage proposal idea to your lender.

However, always ensure that communications between you and your lender are in writing at this point. If you do go to court, you will then have the opportunity to explain your situation to a judge and will have evidence of your attempts to resolve the situation.

Note: part of the FCA’s rules require that lenders send you a guide called the ‘National Homelessness Advice Service (NHAS) Mortgage Arrears Guidance.’ It can be scary to see this – but the intent is not to frighten you with that possibility. It is merely a legal requirement that they send it. As you are learning, there is a lot that you can do to avoid repossession and ensure you have a stable housing situation.

Your lender may also send you the FCA Arrears Information Sheet and/or the FCA Default Information Sheet. Again, these are important informational resources that they must furnish to you. Please read them and ask your lender, financial advisor or someone from a not-for-profit or housing charity to explain anything that is not clear.

  • Pay towards your arrears

Even if you can’t pay the arrears in full – or make a full mortgage repayment – if you can manage any amount, no matter how small, you should pay this as soon as possible. Paying even the smallest sum back shows that these repayments are your top priority and you fully intend to catch up with your payments.

It bears repeating (again!) that lenders resort to repossession when they have no other option. They want you to pay, even if it is an amended amount. All reasonable suggestions must be entertained, and it is a good shot at keeping your house.

Financial circumstances can change in the blink of an eye; there are few of us who have never had to deal with hardship. If you can begin to regain control, though, and pay towards your arrears, you can get through this.

  • Rent your home

Renting your home is a creative solution when faced with debt arrears and house repossession. Consider taking on a lodger to live alongside you, or if you can, stay elsewhere and rent out your whole home. This income could cover a significant part (if not all) of your mortgage repayments.

Of course, you should only do this with the proper legal agreements in place. If you decide to go down this route, you should speak with a financial advisor or even a letting agent to ensure you’re not breaking any laws on contracts, and you must keep the wellbeing of your tenants at the forefront.

First and foremost, ensure that your lender has no restrictions on letting a portion or all of your home. You do not want any further trouble in that area. Next, if you can do this according to the terms of your agreement, then carefully vet the renter. Another area of trouble you certainly do not want at this point is unreliable renters who do not pay on time (or at all) or who cause damage and destruction to the property. Make sure that all rental agreements are legal and binding – and that they help protect both you and the renters.

  • Check if you’re eligible for financial help

If a major life change has occurred which has led you to financial difficulty, you should check if you’re eligible to claim any kinds of benefits due to your situation.

For example, if you’ve had an accident or have developed a disability that has rendered you unable to work, you should be able to gain financial help from the government – which would help with your repayments, and stop repossession.

Get in touch with your nearest job centre to find out more, and if you do end up claiming any kind of benefits, you should inform your mortgage lender of this straight away. Lenders shouldn’t start any possession action if your claim is likely to be approved.

There are government programmes that can help. For instance, if you are on benefits and having difficulty paying your mortgage, you may be eligible for Support for Mortgage Interest (SMI). You can receive help from the government to pay the interest portion of your mortgage payment, which can be of great assistance.

Note: If you are not yet facing imminent repossession but are having financial hardships, you may be able to access government programmes to help you make homeownership more affordable. The resources we mentioned above, particularly Citizens Advice, can be of great assistance here. The goal is to make owning your home easier to manage financially. They can point you towards assistance for energy-efficient upgrades, low-cost loans and other useful tools.

  • Check your insurance policy

Similar to the prior point, you should check with your lender if your plan included (or you specifically took out) mortgage protection insurance. These plans usually protect you in situations such as illness, suffering an accident or redundancy, and allow you to continue to make mortgage repayments if you no longer receive a stable income.

Providers will typically pay out around 125% of your mortgage costs, so it’s imperative that you check if this is something you’ve purchased.

  • Consider a quick house sale

If you know that you can’t pay your mortgage or clear your arrears, you should try to sell your property before you consider voluntary repossession. However, although lenders are required to allow you a reasonable amount of time to sell your property, you might still be unable to sell it due to circumstances such as a bad market or the condition of the property.

While many people find they’re unable to sell their house traditionally before their house is repossessed, most people are unaware of how a quick house sale can stop repossession.

How does a quick house sale work? If you are facing the ‘last resort,’ as it were and do not want to burden your future with the negative consequences of repossession, a fast sale can mean that you remove yourself from this difficult situation and have the ability to move on towards a more secure future.

A reputable cash buying company works differently to the typical house sale. Here, you have to pay for estate agent and solicitors’ fees, valuations, upgrades and improvements to the property and myriad other expenses associated with the process. It can be too expensive to sell – but yet what is your alternative?

Quick house sales negate the financial burden of selling your home and it does so on an accelerated timeline. You may only have weeks to complete a transaction. The typical house sale takes four to six months at a minimum. When you do not have time to waste, this may be a highly favourable option.

When you work with a reputable company, they will send you an initial offer – which may be called an ‘offer in principle.’ This is a ‘guesstimate,’ if you will, based on the most basic facts of the property (e.g. location). If you are interested in going forward, you can accept. At this point, the house buying company instructions valuation experts to inspect the property. You may have also heard these businesses referred to as ‘We buy any house’ companies. This means that you can sell ‘as is’ without committing significant funds – and time – into upgrades, renovations and improvements.

Upon receipt of the valuation and RICS reports, the house buyer will issue a formal offer. This may differ from the initial offer if they discover issues that will impact the value of the property, such as a leaky roof or faulty wiring. Only in extremely rare instances will a company completely rescind the offer. Typically, they will make a fair and appropriate offer that is up to 75% – 85% of the total market value.

Remember that you are not paying for estate agents, solicitors, conveyancing, valuations and other aspects of the conventional sales process, so this equation may very well work much in your favour.

It is also important to know that you are under no obligation to continue if you are not comfortable with the offer. Please be wary of companies that require you to sign a contract or agreement that restricts you to only using their services for a certain period (usually six to 12 months). This is a red flag. Instead, opt for a company that places you under no obligation. You are in control here. You decide if you proceed. End of.

If you do choose to continue and accept the formal offer, you move towards completion. In as little as three weeks, your house can be successfully sold and you receive a deposit directly into your bank account. This should allow you to comply with the timeline imposed by court order if you have one in place.

When you are facing repossession, it is essential that you view any offer in light of what you owe on your mortgage. If you have negative equity, for example, or the sale price would not eliminate your mortgage, this may not be the best option for you. On the other hand, if it can wipe away your debt and allow you to start over with a clean slate, it is an opportunity to make a new beginning and keep the past in the past.

Finding a Reputable Quick House Sale Company

If you would like to investigate the possibility of selling your house quickly with a ‘we buy any house’ company, it is essential that you take every step possible to protect yourself. How do we mean? For example, if you work with a less-than-reputable company without the financial wherewithal to complete a purchase, you will just waste precious time. Further, if you do not receive a reasonable offer, selling your house will not help you avoid repossession or get out from under a difficult situation.

There is also a concern around ‘gazundering’.’ It is a term that describes a practice in which the company makes an attractive initial offer. You decide to proceed, and when it is about to go through, suddenly the company finds a reason to make a revised offer that is significantly less. Thousands or even tens of thousands of pounds… gone.

Assuredly, this was not ‘sudden’ because they found an issue with the property. It was pre-planned from the beginning. They hope that by ‘stringing you along’ for weeks, you will be so desperate as to sell anyway. And many people have no other option. It is a terribly unethical – but unfortunately not illegal – tactic, and one that you need to avoid.

For these reasons, and many others, choosing the right quick house sale company is critical. How do you do it?

  • Make sure the company with whom you will work has the capital and financial power to complete transactions quickly. Ask to see supporting documentation (e.g. bank statements) to affirm this.
  • Check to see if they are members of relevant industry organisations, such as the Property Ombudsman, RICS and the National Association of Property Buyers (NAPB). Good standing here indicates that they adhere to rigorous ethical codes of conduct.
  • Scour reviews. Rely on Google to tell you more about the company. Do they have good reviews that are legitimate and honest? Look for those that are overwhelmingly negative – but also be on the watch for those that seem good to be true.
  • Choose a company that does not obligate you to proceed with their services if you are unhappy with their offers. Some scammy operations will tie you into a contract that prevents you from pursuing other options.
  • Look into the timeline for completion. You need to ensure that it fits your needs as you are trying to avoid repossession.
  • Work with a company that offers fair, reasonable prices. Again, you are seeking to avoid repossession, so you need a solid offer that allows you to pay off your arrears and mortgage.
  • Enquire about their process. How does it work? Will an offer be dropped last minute? The answers should be clear – and it should be understood that while a reputable company may have to re-evaluate an initial offer if they find something that could impact the value of the house (such as extensive damage to the foundation). But only in very rare cases will they drop an offer altogether.

Research the value of your house beforehand so you have a good idea of what you can expect. Typically, quick house buyers will offer 75-85% of the total market value. It is important to understand what is reasonable when it comes to your property. Also keep in mind that while the offer may be below total market value, you do not have to pay for estate agent fees, solicitors fees and other expenses associated with a traditional sale.

If my house is repossessed, can I get another mortgage?

If your previous home has been repossessed, you may still be able to get a mortgage in the future. However, this will be dependent on a variety of factors, including how recent your repossession was, the size and reason for your repossession and how good your credit history has been since,

It’s worth bearing in mind that not every lender will approve you for a mortgage if you’ve had a previous home repossessed. For those that do, it’s unlikely you’ll be granted a mortgage if the repossession took place less than three years ago unless you have a sizable deposit.

Lenders understand that there are many reasons why your home may have been repossessed. If you can show that it happened due to a situation beyond your control, such as being a victim of fraud, they may be more willing to approve you for a mortgage.

One of the most important reasons to prevent repossession is that this adverse credit situation does make it more difficult to receive financing in the future. Lenders will examine the details of the repossession (date, the amount in arrears, etc.), your current financial situation, and your credit since the repossession occurred.

When your home was repossessed may also be a consideration. The more time you have to rebuild your credit, the better. For example, if your house was repossessed five to six years ago, the odds of getting a mortgage are good to great. If it was less than a year ago, on the other hand, it is nearly impossible to be approved. While there are lenders who specialise in loans for those with bad credit, even they may not approve you at this point.

The amount of your repossession debt also matters. For example, if you defaulted on millions over multiple mortgages, you will be seen as high risk. But if you owed, say, a few thousand pounds, then they are likely to take a more lenient stance.

As well, the lender will look at factors such as whether you are still in debt and what your current financial status is like. If you have worked to rebuild your credit or if you are earning more money and saving now, for instance, then your chances of approval are higher.

So yes, it is possible to get a mortgage after repossession, but it is not always easy. It is certainly a setback in your financial life and can impact plans for years to come. Again, preventing the process from going through is important. Take every step you can.

Can I get my home back after repossession?

Theoretically, you can get your home back after repossession, but you would need to be able to cover all associated costs, including the mortgage and arrears first. It would be ideal if you could stop repossession by following the steps above instead.

Selling your house through a regulated property buyer such as Good Move allows you to sell your house without paying any estate agent or solicitor fees. It’s a fast solution that stops repossession efficiently – with Good Move specifically, we aim to buy your property within three weeks for up to 85% of the market value in cash. The sale is confidential and doesn’t involve any hidden fees, meaning you can escape further financial duress.

However, you need to check with your lender that you can do this, as it may not be possible to sell your house if it has negative equity, which means you owe more than it’s worth. The aim of selling your home is to pay what you owe, so if you have negative equity, this won’t be a good option for you.

What Next?

If you are enquiring about how to stop the repossession of your home, chances are the situation is already quite severe. This guide has given you information on the process and guidance on what you can do to avoid this situation. It is undoubtedly one of the most stressful issues you can face – but that is just the key. Facing it. While difficult, it is crucial to reach out to your lender, seek assistance from a housing charity, not-for-profit, and/or financial advisor.

It is also essential that you understand, explore and weigh your options. A quick house sale may be one of these open to you, and depending on your situation, the best route to take. For example, if you have had a life change and can no longer afford your mortgage payment, if you inherited a property on which the maintenance is too high or if you need to relocate for work, family and other reasons, freeing yourself from the house may be the right, albeit hard, decision.

No one imagines themselves in this position when they buy their home. They picture memories and happy times rather than instability and possible repossession. No one wants to be here. But you do not have to remain here. You do have options, you do have avenues to explore, and you do have a way to move forward.

If you’re considering selling your home to stop house repossession, we can help you sell your house quickly, and for a fair price. Get in touch with our team for a fast valuation and offer.

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We are proud members of...

  • NAPB
  • RICS
  • The Property Ombudsman
  • Trading Standards

We are proud to be the most regulated property buyer operating in the ‘Quick House Sale’ industry. We are an active member of the NAPB (National Association Of Property Buyers) and are RICS regulated, which means you can have every confidence of selling your home with us quickly & easily.