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Under certain situations we Can Help you find a Pre Repossession Mortgage. Simple fill out our Quick Mortgage Application Form.

The Main priority is to provide you with a first class service for all your Adverse Mortgage needs, Depending on your circumstance we can help you find an Adverse Credit Mortgage at a very competitive interest rate, we do all the leg work, so you can relax. Click Here to request a call back and an advisers will contact you shortly.

All You Have To Do is simply fill out our Quick Mortgage Application Form

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What Is Repossession? How Can Your Home Get Repossessed? How Can You Stop Your Home From Getting Repossessed? Facing Repossession What Options Do You Have? Repossession Mortgages Frequently Asked Questions

What Is Repossession?

Figures show that the number of people who are being repossessed is rising each year, however this is still lower than in the past, one of the main factors is that people now have more methods available to combat this, and repossession is almost always a last resort. Lenders must assist you in any reasonable method to prevent repossession, if you are facing difficulties making payments for your mortgage, you should go to them as soon as you feel you may miss a payment.

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How Can Your Home Get Repossessed?

When you take out a Mortgage, your lender will register what is called a legal charge against your home in order for them to protect their interest, under this agreement if you sell your house and you still have that mortgage you must repay it first. This same document also states that if you do not make your regular payments, then the lender will have the right to sell your house to pay back the entire loan. Before they do repossess your home most lenders appeal to a court for a possession order, this will let them take over your property legally. They can then sell the property, if there is any money left after the sale of the home and after settling the loan then this will be returned to you. If after selling the property there is a deficit , the bank or insurance company has 12 years to claim this deficit from you.

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How Can You Stop Your Home From Getting Repossessed?

Repossession can be very stressful, and traumatic, but there are ways to resolve the matter, before the property is sold. You must take immediate action in order to stop your home from being repossessed, and this is possible at any time, no matter if you have been called to court for hearing or if you have already been issued an eviction notice, you can stop your home being repossessed and sold.
There are three methods of achieving this; they are, by raising finances from other assets, or by releasing equity in your home by remortgaging, or by the sale of your home on the open market. Once you go to court, you may be given a set time period before you are required to be evicted from your current property, this time period is usually sixty days, you can use this time to make arrangements with your current lender or another lender for a payment plan or a Remortgage. Remortgages are usually possible if you have equity in your property.

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Facing Repossession What Options Do You Have?

Remortgages involve the customer ending their current Mortgage and getting another Mortgage either with the same lender or another lender. Getting a Remortgage and settling your arrears can save you from being repossessed, depending if you have sufficient equity and appropriate income multiples. If you cannot apply for a Remortgage at your local High Street Bank, because of your financial situation you may be eligible to apply for an Adverse Credit Mortgage.

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Repossession Mortgages Frequently Asked Questions

What can the banks do?

Eviction proceedings have started against me, what can I do?

How do I prepare for a court hearing?

How can I stop Repossession?

How long does repossession stay on my credit history?

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