STOP HOUSE REPOSSESSION
Need to stop bank repossession of your house? We can connect you with qualified Cash Property Buyers.
Stopping House Repossession
Your House Repossession Questions, Answered!
Facing repossession is incredibly stressful. We have helped many people navigate through troubled waters to achieve an outcome that they could never have dreamed of.
Below are some of the most frequently asked questions we receive from customers.
What is the house repossession process?
The house repossession process follows 6 steps, as follows:
1. Your lender sends you a letter about your mortgage arrears
Once you have fallen behind in mortgage payments your lender will contact you to find out what your situation is and set out the options you have to make repayments. The lender needs to follow set rules and guidelines, called a pre-action protocol (which we discuss below).
You will need to consider all your options and put together a repayment proposal for your lender’s consideration.
If you fail to respond or the lender is not convinced that your repayment proposal will rectify the situation, then they will write to you again to let you know that they intend to start court proceedings to repossess your house.
2. Your lender applies for a possession order from a court
Lenders cannot repossess your home without court approval. To begin the process the lender will contact a local county court to set out the reasons why a judge should give the lender a possession order.
3. The Court writes to you to inform you of the hearing date
The court will fix a date for a hearing. They will write to you using a claim form where they will tell you the date of the hearing and provide a defence form, which you need to complete and send back to them. We highly recommend contacting Shelter or use the Government's Website for advisory support.
4. A judge hears the case
A judge is the only person that can decide on whether your house will be repossessed. He will listen to the evidence from the lender and from you before making a decision to either: 1. Issue an outright possession order (i.e. you will be evicted from the property), 2. Issue a suspended possession order (i.e. you can stay in the house as long as you meet the conditions of the court), 3. Adjourn the case to allow you and the lender to undertake certain steps before coming back to court, 4. Dismiss the case or strike the claim
5. The court makes an order for repossession and bailiffs are sent to evict you if you don’t leave under your free will
If the judge decided that your property should be repossessed, he will issue a repossession order. This usually gives you 28 days to vacate the property, but could be less or more days depending on your circumstances. You may also be ordered to pay court costs. If you have not vacated the property by the date stipulated in the repossession order, bailiffs will be sent to remove you from the property. Your lender has to apply for a bailiff warrant and receive one before bailiffs can enter your property. The court may order you to pay for the bailiff's costs.
6. The lender sells your house
Once the lender has taken possession of your property they will try selling it via auction. During the sale period you will be liable for mortgage interest costs. Once sold the lender will pay off the loan (i.e. the money that they are owed). If there is any money left over after the loan has been repaid, the lender will return this to you. If there is a shortfall you may end up owing the lender money.
How many months’ mortgage repayments do you need to miss before repossession proceedings begin?
After you miss a mortgage repayment your lender will put you in a default payment status. We recommend contacting your lender before they contact you to explain your situation. You will likely be given 15 days grace to make the payment. Once you miss your second repayment you will receive a demand letter from the lender. You will have around 30 days to make repayments.
After 90 days of no payments (typically 3 missed payments) you will get a notice of default, which will be placed on your front door. At this point the lender will hand over the loan to their foreclosure department and you will have another 90 days to resolve the arrears before the lender will approach the court to issue a repossession order.
What rules do lenders need to follow before repossession?
Lenders need to follow specific rules if they are to repossess your house. These rules are called pre-action protocol rules.
In short lenders are legally obligated to treat you fairly and consider any reasonable suggestions you make to repay your arrears. The lender needs to give you a reasonable amount of time to repay your arrears (typically this is over 90 days) and needs to send you written warnings in the form of demand letters and default notices. They also need to send you information leaflets from the Financial Conduct Authority (FCA) on arrears and default, and from the National Homelessness Advice Service (NHAS) on mortgage arrears.
We highly recommend that you remain as helpful and responsive throughout your communications with your lender. We recommend staying in regularly contact and do not ignore phone calls or letters. If you fail to communicate effectively with your lender it will not bode well for you if the case goes to court.
The lender needs to consider any suggestions that you make for repayment seriously and if they reject your suggestions, they need to do so in writing within 10 working days to explain their reason.
The lender should not start court action if you have made a claim under a mortgage payment protection policy and are likely to make payment or if you have applied for support for mortgage interest (SMI) or universal credit for help with mortgage costs and are likely to get a payment. The lender should also delay court proceedings if you are getting help from your local authority under the mortgage rescue or homeless prevention scheme, or if you can prove that your income is going to improve enough for you to make repayments.
You can also delay repossession if you can prove that you will be selling your property by showing them proof, like an estate agencies listing with an Energy Performance Certificate record or surveyors report.
Alternatively, if you plan to sell your house quickly and for cash then we can help. We have helped 100s of UK homeowners sell their house for cash to avoid repossession.
What is the difference between an outright possession order and a suspended possession order?
An outright possession order, often called an ‘order for possession’, gives your lender the legal right to own your home on a given date. Usually an outright possession order gives you 28 days after your court hearing to vacate your house. Depending on your circumstances an order of possession could give you fewer or more days than the standard 28-day threshold. If you haven’t vacated the property by the date stipulated by the court, your lender can ask the court to evict you and a bailiff warrant will be ordered.
A suspended order allows you to stay in your house as long as you meet the conditions of the court. These conditions will be set out in the court order, but usually include paying your standard monthly mortgage instalments along with a fixed monthly amount to repay the arrears.
If you have been issued an outright possession order it is usually too late to sell your property via standard estate agent routes; however a cash buyer may still be able to help you with a fast cash sale and renegotiations with the lender and courts. Please contact us to discuss.
What are my best options if I am facing repossession?
If you are having financial difficulties we recommend that you first contact your lender to discuss your situation and see whether you can work out a sensible repayment solution.
If you are unable to work out a repayment solution with your lender, then we recommend contacting Shelter to take legal counsel.
If you have exhausted the options available to you via the local council, SMI or through universal credit, and you are unlikely to resolve your financial situation, then you might want to look at selling your house and downsizing.
Traditional estate agent routes will generally get you the best open market price, but can take many months to complete, especially if willing buyers are scarce and / or stuck in chains etc.
An alternative solution is to sell your house to a cash buyer. This can provide a great solution if you need fast cash and want to get the best cash value for your property.
Accelerate Homes have been helping UK Homeowners sell their house for cash for over 10 years. We are unique in that we partner with a select number of respected cash buying companies who all have access to significant cash funds, which means they are not depending on third party lenders or investors and can move really quickly to get you the best possible cash price for your house. Contact us today to get a quote – complete this form.
What house repossession resources do you recommend?
For free independent advice on house repossession check out the Government's guide. Other good resources on repossession can be found on Citizen's Advice website and on National Debtline.
How We Can Help
Are you facing house repossession? Has your lender started court proceedings to repossess your house? If so we are here to help!
At Accelerate Homes we've helped 100s of UK homeowners avoid house repossession. We understand just how stressful house repossession is and have a proven process to help you through these tough times. We can help you stop a repossession order or an eviction order by connecting you with a reliable cash property buyer who can purchase your house fast!
We partner with a small selection of respected cash buyers who all have access to significant investment funds, which means they can guarantee cash offers and move really quickly - often completing in as little as 7 days. If you are under severe pressure from your lender and / or the court one of our partners can help with negotiations and provide upfront cash advances to ease the burden as you look for a new home.
In terms of the sale process our partners provide a fair, fast and transparent service. Their friendly and professional property teams are very experienced in helping property owners avoid repossession. They treat all our customers with the utmost respect and aim to get the best result for you given your circumstances.
And the best part is that they do not charge for their services. In fact they will cover your legal fees should the sale proceed, and often they will allow you to remain in your house for a short period after they purchase it, rent free, so that you can plan your onward move. They can also help with your onward move if you are a bit strapped for cash.
So, if you are facing house repossession and don't know where to turn, please contact us today to discuss your situation. We guarantee to do everything we can to help!
Avoid House Repossession
Steps To Sell Quickly
Complete our enquiry form, one of our cash buyers will call you within 24 hours to discuss your situation and look at solutions. They'll also provide a cash estimate for your house. No viewings needed!
Set a Sale Price
Assuming the offer works for you they'll arrange for an independent RICS survey and confirm a sale price. At this stage they can help with negotiations with your lender and stop eviction orders.
If you accept their offer they can complete as fast as you need. They can provide upfront cash advances to tie you over and help with your onward move.
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Consistent 5* Reviews
“We got a quick cash offer and closed within two weeks!”
“The cash buyer that Accelerate Homes recommended were professional and a pleasure to deal with. Andy in the Sales Department was helpful from the beginning and throughout the process, which made the sale a straightforward and relatively stress-free experience. His understanding of our situation was first class. I would have no hesitation to recommend this company.”
Process to Stop Repossession
Cash House Sale Solution
The process of stopping your house from being repossessed requires acting quickly and decisively.
There are a number of stages to house repossession. Initially the process begins when you start missing repayments on your mortgage or against your secured loan. Your lender will contact you to try work out a solution. This is usually called a financial arrangement or payment plan.
If you are unable to meet your lender's payment plan, your lender will likely contact the courts and you will receive a letter summoning you to a repossession hearing. At this stage it is not too late to stop repossession proceedings by either finding a repayment solution or selling your property fast via a private sale or to a cash buyer.
If you decide to go forward with the court hearing then there are four possible outcomes, after hearing all the evidence on your arrears and financial situation the judge:
- Issues a repossession order. It is difficult to stop repossession if this is the case and eviction proceedings will likely go ahead
- Issues a suspended repossession order. This allows you to stay in the house for a period of time (usually 28 days) to try sell the property or resolve your arrears position
- Adjourns the case due to medical reasons, for example
- Dismisses the case. This is a unlikely scenario as your lender's solicitors will usually be very organised for the hearing
Option 2 is usually the best outcome and still gives you time to stop house repossession. Generally a suspended repossession order gives you 28 days to resolve your arrears position. It is important that if you decide to sell to a cash buyer that you get in touch ASAP so they can move quickly to stop your house being repossessed.
Please note: If you have been served an eviction notice or have an eviction date one of our cash buyers can still help you. Contact us immediately and we will help you complete from N244 to get a County Court Hearing. In general judges are always keen to avoid repossessions, so if you can prove that you have a willing cash buyer and the means to move to a new abode, then you can still avoid repossession. This is true even if you have served an N244 form before.
In all cases, if you are facing the horrible situation of repossession, please contact us as early as possible as we will most likely be able to help you find a buyer that can help.
We only work in partnership with cash property buyers who are trusted partner members of The Property Ombudsman and National Association of Property Buyers.
Repossession Sale Solutions
Cash Sale vs. Estate Agents and Auctioneers
To stop house repossessions you have a few options. If you have the financial means the best solution is to setup a repayment plan with your lender.
However if you are not able to meet repayment terms then the best alternative is to sell your home.
Selling through an estate agent can take up to 6 months and auctioneers usually take big fees and don't get market values. Accelerate Homes specialise in helping customers in financial difficulties get the best possible CASH price for their house, and we can move incredibly fast!
These are the pros and cons as we see them.
Selling to a Cash Buyer (7 Days+)
Selling via Estate Agent (6 Months)
Average Agreed Purchase Price
Final Agreed Price After Survey
Estate Agent Fees
£2,592 + VAT
Cosmetic Repairs Needed
Council Tax and Other Bills
Net Price Achieved
Frequently Asked Questions
Selling your house to a cash buyer
What type of houses do we buy?
Our cash buyers will buy any type of house in the UK - detached, semi-detached, terraced, apartments, bungalows and ex-council flats / houses. They even buy non-standard construction homes. They work nationwide, except for Scotland and Northern Ireland.
Do you offer cash prices below market value?
To work out an offer price our cash buyers use local market research and a RICs independent survey. Because our partners finance their purchases with 100% cash they can move incredibly quickly and make offers to help you secure the best possible cash price for your property. This is inevitably lower than an open market price that is subject to chains, estate agent fees, solicitor fees etc.
What are the costs associated with selling my house?
There are no costs associated with selling your house! Our partners will cover all your legal fees and the cost of the RICS property survey. They charge no admin fees. In fact they will often also pay for house clearance and removal. There is literally no cost to sell to one of our recommended partners.
How fast can you purchase my house?
Speed is of the utmost importance if you are in the process of house repossession. Our partners can complete in as little as 7 days but on average they work with you to negotiate favourable terms with your lender and the courts to delay eviction and complete sales in time for a comfortable transition to your new abode. On average, the complete sales process takes 28 days.