What happens after you are repossessed?

In Repossession Help by admin

Being repossessed doesn’t always mean an end to your mortgage debts or any secured debts on your home.

The lender is usually allowed under their contract to pass on all their recovery costs to you, the borrower. A court order is not needed for them to do this.

Costs can include:

  • court fees.
  • solicitors and barristers fees and expenses.
  • witness expenses.
  • bailiff fees.

For every hearing costs will be added to your Mortgage Account statement.

Rapid Sale can combat all of the above. We can agree on a good price for your property for cash. We can prove to your lender we have the funds in place and that we can complete in 7 days. You won’t need an Estate Agent (that will need paying). We have an in-house experienced Solicitor that can deal with your lender and the court for you if needed, so you don’t need to even find and pay a solicitor, we cover all these costs. Best of all we can agree for you to stay in the property for up to 3 months on a rent free basis giving you more time to get sorted out. We can try to come to an agreement with your lender to stop court action suspending any debts that might normally occur.