Repossession Types
Have you had your house repossessed recently by your mortgage lender? Or are you in the process of being evicted after a repossession?
If so, you need to act fast! There is still a chance that you could save your home if you take urgent advice from a specialist repossession mortgage adviser.
Reverse Repossession
Once the mortgage lender has managed to obtain a repossession order against your property, there is a period of 2 weeks during which time the decision can be reversed.
Depending on your circumstances, it might be possible to use this brief window of opportunity to arrange a remortgage to pay off your current lender, reverse the repossession, and so stop yourself being evicted from your home.
Specialist repossession mortgage advisers can often arrange a remortgage like this within fourteen days, provided you have enough equity in your property. This usually means that the amount of your outstanding mortgage, plus mortgage arrears, needs to be below 85% of the current value of the property.
To find out if you can reverse your repossession and avoid being evicted from your home, complete our online enquiry form today. We will then put you in touch with a specialist repossessions mortgage consultant who will discuss your situation with you and without any obligation to proceed. All enquiries are treated in the strictest confidence.
Suspended Repossession
If you build up mortgage arrears by not keeping up with your mortgage repayments, your mortgage lender may be able to apply to the courts to obtain a suspended repossession order against your home.
A suspended repossession order is basically a final warning, and means that if you continue to fall behind with your mortgage payments, your home will almost certainly be repossessed.
If you have been issued with a suspended repossession order, then you need to act now in order to save your home from being the dreaded repossession.
With the help of one of the specialist remortgage brokers that we work with, you may be able to remortgage to a new mortgage lender. By doing this you can pay off your mortgage arrears, and have the suspended repossession order cancelled. This gives you a fresh start and removes the impending risk of having your house repossessed.