Stopping repossession of your house – steps to consider

If you have a mortgage on your house or flat and fall behind in payments, you risk having your home repossessed. But this outcome can be avoided through certain steps, including negotiating with your lender or selling your home to help pay your unpaid fees.

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Top three questions about repossession of your home

As we speak to many homeowners on a regular basis, we’re frequently asked many questions about home repossession. Here are the three that we are often asked:

✅ Is it possible to stop repossession by talking to my mortgage lender?

Yes. In fact, many mortgage lenders prefer to reach a repayment agreement rather than have to go through the lengthy process of repossession. If you have fallen behind with payments, call your lender as soon as possible and tell them about your situation. Talk with them about making a repayment plan and restructuring the mortgage.

✅ Can I sell my house even when it's in the steps towards repossession?

Yes. Often if your mortgage lender has started the initial stages of repossession, you might still be able to sell it and use the sale proceeds to not only pay off the mortgage but any late fees you might have occurred.

✅ Is my lender guaranteed to take over ownership of my home in repossession?

Not necessarily. A court will have to sign off on the final repossession before the mortgage lender can officially take control of your home. If you fight the repossession in court then you can present a plan for paying the arrears that a court might approve, which would prevent the lender from taking over your property.

If you choose the option of selling, we can make you a fast and fair deal

We specialise at LDN Properties in making quick and competitive offers to buy homes. If you’ve decided that selling is the best option for avoiding repossession of your home, give us a call or click the "Request Offer" button below. Our considerate team of experts will answer any and all questions you might have about our zero-stress approach to buying your home.

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