How to Stop Repossession
If you have found yourself in financial difficulty leading to missed mortgage payments, you might need to understand how to stop house repossession.
How to Stop House Repossession
If you need to stop repossession proceedings, acting quickly is essential. We Buy Any House can complete a cash purchase in as little as 3 days, giving you the time and funds to stop repossession before it goes to court
Defaulting on your mortgage can trigger the risk of it being repossessed, which can be an incredibly stressful time for you and your family.
Although it can feel like there’s no way out, here at We Buy Any House we make it our mission to help people just like you who are struggling with their payments, and want to sell their house fast before their house gets repossessed.
If you’ve missed mortgage payments, and are worried about your house being repossessed you might be wondering, how do I sell my house fast? Simply speak to one of our friendly property experts in order to discuss your options and find a solution to alleviate your current situation.
We’re the UK’s go-to choice for fast house sales. We can give you an offer in as little as 15 minutes and completion can be arranged in just 3 days, or timescales that suit you and your family’s needs. Just get in touch for your own offer.
Frequently asked questions on preventing house repossession
Facing your house being repossessed can be difficult and a hard prospect to face. Our property specialists speak to thousands of people each month in similar situations, and they’ve answered some vital questions to help you make the right next step for you.
What triggers house repossession?
If you have not been paying your monthly mortgage payments you will fall into arrears on your property loan. The lender will usually make multiple attempts to get in contact with you to prompt you to pay back the arrears. If you default on this secured loan, they have the right to apply to repossess the property in order to pay your loan off entirely.
The process involves the house being repossessed and sold. The amount they recoup on the property is then used to pay:
- Your existing mortgage debts
- Legal fees
- Repossession costs
- Miscellaneous administration costs
- Court fees
Only after all of these costs have been paid will you receive the remainder. You also have no choice over who the lender sells your property to, or at what sale price. The process can drag on indefinitely, all the while leaving your credit rating shattered.
Don’t panic though, in this guide we’ll take you through some methods for how to avoid house repossession or stop it if the process has begun.
What happens after a court repossession order?
If a court grants a repossession order, you will typically have around 28 days before bailiffs can take further action and remove you from the property. However, receiving a court order does not necessarily mean repossession is unavoidable.
At this stage, there may still be time to sell your property and repay the outstanding mortgage balance.
A fast cash sale can often halt repossession proceedings, provided contracts are exchanged before the scheduled bailiff date.
Once the sale is legally progressing and the mortgage debt will be cleared, the repossession order can be suspended.
We Buy Any House can exchange contracts in as little as 3 days, giving homeowners a realistic opportunity to avoid eviction and move forward with certainty.
What is end of term mortgage repossession?
If your mortgage term is coming to an end and you are unable to secure a new mortgage deal or repay the remaining balance, your lender may begin repossession proceedings.
This situation is known as end of term mortgage repossession and can put your home at risk if action is not taken quickly.
Selling your property to a cash buyer can provide a fast solution, allowing you to release any available equity and clear the outstanding mortgage debt before the term expires, helping you avoid repossession and its impact on your credit record.
The longer you wait, the higher the risk of house repossession
By this, we mean risk of house repossession as well as risk to your credit rating. Missed payments are one of the top factors that bring your credit score down.
This means that every month you miss mortgage payments, you’re also racking up bad debt. If you cannot find a way to pay back the arrears on your mortgage, unfortunately, the clock is ticking on house repossession.
Minimise the damage from the whole unfortunate situation by getting out of it quickly. By selling up you can stop house repossession in it’s tracks. From there, you can regain your financial security and start rebuilding your credit.
Can I sell my house with mortgage arrears?
Yes.
Having mortgage arrears does not prevent you from selling your property.
When the sale completes, the outstanding mortgage balance and any arrears owed to your lender are paid directly from the sale proceeds.
This can help you avoid further action from your lender and provide a clear route to resolving the debt. With We Buy Any House, there are no additional fees to pay, we cover all legal costs, helping to make the process as straightforward and stress-free as possible.
Repossession by Lender |
Selling to We Buy Any House |
|---|---|
| Your lender controls the sale process, including the timing and sale price. | You remain in control of the sale and agree the price and completion date. |
| Properties are often sold quickly and may achieve below market value. | Receive a fair cash offer with a guaranteed buyer and no estate agent delays. |
| You have little or no input into how the property is marketed or sold. | The sale process is transparent, with dedicated support throughout. |
| If the sale proceeds do not cover your mortgage balance and associated costs, you may still be liable for the remaining debt. | Your outstanding mortgage and secured debts are settled from the sale proceeds at completion. |
| Repossession can have a significant negative impact on your credit record. | A voluntary sale can help you avoid the long-term consequences of repossession. |
| Any remaining equity is only returned after all debts, fees, and costs have been deducted. | Any remaining equity after your mortgage and secured debts are cleared is paid directly to you. |
| The process can be stressful, uncertain, and leave you with limited options. | Contracts can be exchanged in as little as 3 days, providing speed, certainty, and peace of mind. |
How to stop house repossession
If you’re facing the prospect of house repossession, you might be feeling anxious about how to deal with it. There are several key options for how to avoid house repossession:
How a fast sale with We Buy Any House stops repossession
When you’re facing mortgage arrears or the threat of repossession, time is often your most valuable asset. A traditional property sale can take months to complete, and every delay increases the risk of further action from your lender.
With a conventional sale, you may need to wait for:
- Comparing estate agents and choosing one to market your property
- Professional photographs, valuations, and listing preparation
- Viewings and negotiations with prospective buyers
- Mortgage approval, affordability checks, and surveys for the buyer
- Conveyancing and legal processes
- Property chains to progress, over which you have little or no control
A delay at any stage can significantly extend the time it takes to complete your sale. If you’re already struggling with mortgage payments, these delays could leave you exposed to repossession proceedings before the transaction is finalised.
Don’t let delays set in, causing you to lose your property and valuable equity. Act now to release the burden and achieve a quick house sale.
But, how fast do we mean when we say fast?
No sneaky extra fees
If you’re selling to stop house repossession proceedings, there’s a good chance that you’ll be keen to minimise extra expenses.
Unlike selling with an estate agent, we don’t charge any extra fees.
The offer we give you is the offer we will pay, with no extra strings attached or miscellaneous charges.
Frequently Asked Questions: How to Stop House Repossession
Yes. You can stop house repossession at almost any stage of the process, including after a court order has been granted. Your lender must follow a legal process before bailiffs can act, and at each stage you have options.
If you sell your property before the bailiff date, the repossession order is suspended, and the debt is cleared from the sale proceeds. We Buy Any House can exchange contracts in as little as 3 working days, which in most cases is well within the window available to you.
Even if you have already received a court order, contact us immediately; we may still be able to complete a purchase before the order takes effect.
We can complete a cash purchase in as little as 3 working days after we accept your offer. Most repossession cases that come to us complete within 7-21 days, giving you time to stop the process before bailiffs are instructed.
Unlike a sale on the open market, there is no chain, no mortgage approval needed, and no risk of the sale falling through. Once you accept our offer, we instruct solicitors at our cost and work to your timeline, not a buyer’s.
When you sell to We Buy Any House, your outstanding mortgage and any arrears are settled from the sale proceeds at completion. Any remaining equity above the mortgage balance and our purchase price is paid directly to you.
This is an important difference from a repossession. If your lender repossesses and sells your property, they will typically sell at below market value, and you have no control over the price. Any shortfall between the sale price and your outstanding mortgage can remain as a debt even after you have left the property.
Selling quickly to We Buy Any House puts you in control of the outcome.
Yes, in many cases. A court repossession order typically gives you 28 days before bailiffs can be instructed. During this period, a fast sale can still halt the process.
If contracts exchange before the bailiff date, the repossession is suspended. We Buy Any House can exchange within 3 days, meaning even a court order does not have to be the end of the road.
We would always recommend speaking to a solicitor or debt adviser as well, but if you want to act quickly, getting a free offer from us is a no-obligation first step.
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.
