Stop Home Repossession – Auction Agent Property Auction House
Stop Home Repossession
UK Housing Debt Obligations
Stop Home Repossession | Owning your own home is what many see as the pinnacle of financial freedom and independence. Unfortunately, due to unforeseen financial circumstances, people may fall into mortgage arrears and thus face a repossession on their property. Mortgage borrowers are responsible for repaying all their debts in a timely manner under UK law. This includes fees, the principal amount, interests accrued, and any other fees stipulated on the original mortgage contract. Missing a mortgage payment but repaying it promptly thereafter may not have any or much financial penalties. A borrower regularly missing mortgage payments and/or in being constant arrears, however, will most likely face heavy financial penalties – the most significant of which would be a house repossession. Banks, building societies and lending companies usually give the mortgage borrower 90 to 180 days before they start proceedings for a house repossession.
What is the issue with a house repossession?
One may ask: what is the difference in getting my house repossessed and selling my house on my own?
There are major differences between the two. Purely from the financial standpoint, a defaulting borrower will see a significantly higher loss if their house has been successfully repossessed. This is as opposed to one who managed to sell off their house before repossession kicked in and pay off their debts with the proceeds thereafter.
Stop Home Reossession Today
Repossession costs can include repairs, upkeep, maintenance, interest, the remainder of the principal, and extortionate legal and selling fees.
Repairs, upkeep, and maintenance may be charged by your lender if they feel it is deemed necessary to be incurred in order to sell the property in a timely manner.
The lender can still technically continue to charge you interest even when repossession is already in effect. This is because the mortgage borrower is still in arrears for loan payments until the repossessed property has been sold.
The remainder of the principal amount refers to homeowners who have unfortunately bought their properties for a price higher than its current market value. For example, a borrower who has taken a mortgage to purchase a property in the early 2000s may see negative equity if they are forced to sell their house during the financial crisis in 2008. Lenders are legally entitled to claim for the difference for up to 12 years.
Finally, the lender may use a solicitor and a real estate agent that charges extortionate amounts in fees who may also take longer than usual to complete a sale. This will, therefore, cost you even more for interest and other costs previously mentioned.
How do I stop a house repossession and save money?
The answer is simple: Auction Agent, your local property auction house. Auction Agent is a traditional, high street property auction house. We employ a traditional property auction approach, whereby properties have a maximum completion deadline of 28 days. Stop Home Repossession. The team at Auction Agent have been selling houses for years; we know the local property market well. We are all locally based with a passion for our work and community. We have over 50 years’ combined experience in the property market. We are always available to answer any questions you may have, whether you are selling a house, buying a property or just curious about property auctions in general.
Whether you have a flat, a terraced house, a semidetached house, a detached house, a bungalow, land or even commercial properties and retail units that are being repossessed – contact Auction Agent Property Auctioneers today for a free no-obligation property valuation. We have an extensive applicant database with many cash buyers waiting. You can be certain to sell your repossessed house fast in Manchester, Bolton, Bury, Rochdale, Heywood, Oldham, Middleton, Radcliffe, Whitefield, Prestwich, Chadderton, Salford or sell your repossessed house fast in Greater Manchester with Auction Agent’s incredibly easy and convenient property auction selling process and buying process.
We utilise all the leading online property portals including Rightmove, Zoopla and PrimeLocation as well as social media sites like Facebook, Twitter, and LinkedIn so you can be assured of the utmost professional service and friendly, honest advice.
Stop Home Repossession – Do you have a property that is being repossessed near Northern Belle, Manchester Three Rivers, Clue HQ, Graystone Action Sports Academy Manchester, Chester Zoo, Science and Industry Museum, The John Rylands Library, National Football Museum, The Lowry, Imperial War Museum, Knowsley Safari, Manchester Museum, Dunham Massey Hall & Garden, Manchester Art Gallery, East Lancashire Railway, Lyme Park, Quarry Bank Mill, Manchester Cathedral, Bridgewater Hall, Central Library, Royal Exchange Theatre, People’s History Museum, Stockport Air Raid Shelters, Robinsons Brewery Visitor Centre, Portland Basin Museum, Lancaster Park & Animal Farm, HOME, Hat Works, Bolton Museum, Ordsall Hall, The Monastery, Victoria Baths, Salford Museum and Art Gallery, Staircase House, HSBC UK National Cycling Centre, Stockport Museum, Hall i’ th’ Wood Museum, Belle Vue Arena, Chadkirk Chapel, Museum of the Manchester Regiment, Horwich Heritage Centre, Blackleach Country Park, Manchester Arena, Albert Square, Barton Swing Aqueduct, Old Trafford, Etihad Stadium, Tatton Park, Chill Factore, Palace Theatre, Jodrell Bank, Runway Visitor Park, The Whitworth, All Star Lanes, Bramall Hall, The Printworks, Manchester Central, Emirates Old Trafford, Gallery Oldham, Little Owl Farm, Contact Theatre, Castlefield Gallery, Bishops Park Pitch & Putt, LEGOLAND Discovery Centre, Sea Life Manchester, Play Factore, AJ Bell Stadium, Blue Planet Aquarium, Belle Vue Greyhound Stadium, The Trafford Centre, Great Northern Warehouse, University of Manchester, Spinningfields, Manchester Town Hall, FC United, The Stroller Hall, Rochdale Pioneers Museum or Astley Cheetham Art Gallery?
For a free property valuation on your repossessed house in Bolton, Bury, Rochdale, Heywood, Oldham, Middleton, Radcliffe, Whitefield, Prestwich, Chadderton, Salford, Manchester and Greater Manchester or any other area in the M1, M2, M3, M4, M5, M6, M7, M8, M9, M11, M12, M13, M14, M15, M16, M17, M18, M19, M20, M21, M22, M23, M24, M25, M26, M27, M28, M29, M30, M31, M32, M33, M34, M35, M38, M40, M41, M43, M44, M45, M46, M50, M60, M61, BL0, BL1, BL2, BL3, BL4, BL5, BL6, BL7, BL8, BL9, OL1, OL2, OL3, OL4, OL5, OL6, OL7, OL8, OL9, OL10, OL11, OL12, OL13, OL14, OL15, OL16, SK1, SK2, SK3, SK4, SK5, SK6, SK7, SK8, SK9, SK10, SK12, SK13 or SK22 postcodes, contact Auction Agent today on 01706 940499, firstname.lastname@example.org or visit www.auctionagent.co.uk.
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