For the average UK home owner, the very thought of having the property repossessed seems alien, after all, it is only irresponsible people trying to live above their means that experience the indignity of having their house repossessed, or is it? In reality, it doesn’t take much to put a person in the situation where they can no longer afford to pay their mortgage, and something like an accident, or the onset of a sudden illness could put you in this situation. Some people take out special insurance to cover their mortgage payments if they are unable to work for any reason, but the majority of UK homeowners are not completely protected in this area, and it is oh so easy to start to fall into arrears. If you are already a month or two behind with your mortgage payments, here is some great practical advice on how to avoid having your home repossessed.
A Growing Trend
With an ailing economy and the rising cost of living, more and more UK homeowners are facing the likelihood of property repossession, so much so that there are now specialist home buying companies who exist solely to help people avoid repossession. The high number of mortgage repossession cases in the United Kingdom spawned the idea of an organisation that pays cash for property (regardless of age or condition) and if you were to approach such a company, you can expect to receive a cash offer within 24 hours! Furthermore, the buyer will also provide a solicitor and pay all the legal fees and they will even deal with the mortgage lender on your behalf, leaving you with a cash settlement on your property and a debt free future.
If you are already wondering how to source such a company, the Internet holds all the answers, and a Google search (with the right keywords) will land you on the website of an established home buying company. This type of business understands the need for quick action, and without having to contact lenders, they have instant access to capital and will typically make a cash offer for a property within 24 hours.
Dealing with the Lender
When you are behind with your mortgage payments, you expect to be pressured by the lender, who will want to know what your financial status is and whether or not you can manage to avoid repossession, and once you have made contact with the home buying company and accepted their cash offer, they will then deal with the lender from this point on. Furthermore, they will pay all the legal fees that are a result of the sale, and more often than not, the property owner walks away in a much better position than if they allowed the repossession to go ahead.
Thousands of UK homeowners have successfully avoided repossession by using such a service, and with no cost to yourself and a guaranteed cash sale, this is the ideal solution to avoiding having your home repossessed.