What is end of term mortgage repossession?
End of term mortgage repossession happens when your mortgage term expires and you are unable to repay the outstanding balance, either because you cannot remortgage, because the lender will not extend the term, or because the property value has fallen below the loan amount. This situation is becoming more common, particularly for interest-only mortgages taken
End of term mortgage repossession happens when your mortgage term expires and you are unable to repay the outstanding balance, either because you cannot remortgage, because the lender will not extend the term, or because the property value has fallen below the loan amount.
This situation is becoming more common, particularly for interest-only mortgages taken out before 2010 that are now reaching the end of their term.
If you are facing end of term repossession, a fast cash sale allows you to clear the outstanding balance and any arrears, protecting your credit rating and releasing any remaining equity. Contact We Buy Any House for a free, no-obligation offer.