How Aarti Auctions can help you?
Repossessions
Are you at risk of having your house repossessed and want to know more about how to stop the repossession of a house?
If you fall behind on your mortgage payments, get in touch with your lender immediately. Waiting for them to contact you is not a smart move. Open and honest communication is key. Often, your mortgage provider will give you advice and help you find a solution. However, there are other ways to stop repossession too.
Owning your own property is expensive. If your financial situation has changed, it can happen to anyone and you may be struggling to pay your mortgage. This is known as mortgage arrears and even one missed payment can result in legal action being taken against you.
Mortgage Repayments
Up until the 1st of April 2021 the FCA had put in place a freeze on the enforcement of lender repossession. This was established as the pandemic had a huge impact on people’s earnings, with many people being out of working or losing their jobs.
More people than ever contact their lender for a mortgage holiday, hoping the respite would enable them to get back on track with their mortgage repayments.
Due to the passing of the Coronavirus Act in March 2020 repossession levels are at an unprecedented low. However, with the suspension now over, it is expected that levels will rise again.
If you’re behind on your mortgage payments, for whatever reason, you could face repossession if your mortgage lender triggers the process. Below, we outline how to tackle mortgage arrears and how to stop repossession of a house.
Find a Solution
What is repossession?
If you fall behind on your mortgage repayments, your mortgage provider will contact you. They will inform you that you are in mortgage arrears and how much money you owe them.
You are a customer of your lender, remember honest communication about your financial situation will help them determine the best course of action for you. The last thing your provider wants is to start repossession proceedings as it costs them a lot of money and time, so they want to help you find a solution.
This could be:
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A mortgage holiday so you can get your finances together and then begin repayments
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Allow you a period to borrow money from family and friends and repay the sum owed
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Fixing your outstanding balance to future mortgage repayment deadlines
Your mortgage provider will endeavour to find an alternative payment plan that you can meet so that you do not lose your home.
The best thing you can do as a homeowner is having open communication with your lender and be completely honest. There is no point agreeing to a repayment structure that you cannot meet.
What happens when your home is repossessed and how to stop repossession in court?
If you fail to liaise with your lender, or fail to meet the agreed repayment schedule, they will be forced to file for a repossession order. This means the courts have decided that the mortgage company can repossess your home.
You will be invited to attend court. You will explain your case to the judge. Fortunately, solutions are often put together even at this stage to stop repossession proceedings because neither the courts nor your lender want you to lose your home.
However, there are some circumstances which cannot be resolved. In these cases, the judge may state that repossession is the best option. If this is decided, the judge will provide you with the date you must leave your property.
If you are still present when this date arrives, bailiffs will attend your home to remove you and your belongings. Your mortgage provider will then sell your home and once mortgage arrears and legal fees have been deducted, any remaining money will be returned to you.
No matter the condition of your property, it can be sold at auction, with properties available every month. If you’re facing financial difficulties or dealing with the stress of repossession, we’re here to help you find a way forward. Auctions create a fair and competitive bidding environment, often achieving the best price in the shortest time. Unlike “We Buy Any Home” companies, who focus on offering the lowest figure, our priority is making sure you receive the maximum value for your property and the peace of mind you deserve.
Mortgage changes
When liaising with your mortgage provider, try and bring a budget, plan, or lump sum payment to the table. Having a grasp on your finances will prove to your lender that you are keen to rectify the situation, stop repossession and fulfil your responsibility.
With this information, they may suggest:
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Switching you to an interest-only mortgage
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Adding your arrears to future mortgage payments
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Granting you a mortgage holiday
Residential changes
If you would like to clear your arrears, and stop repossession, rather than selecting a solution above, you could consider:
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Moving out and letting your home
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Subletting a room in your house to a lodge
Top Tip - Do you have a mortgage insurance policy?
Many people choose to take out insurance policies on their mortgage. After all, who can predict what will happen during the time it takes you to pay off your lender?
If you took a mortgage protection insurance policy for added peace of mind when you purchased your home, you should get in touch with your provider.
It is not guaranteed that your policy will cover your situation. However, many offer mortgage protection relating to loss of life, illness, or a drop in income. It is an avenue worth pursuing to stop repossession.
Recommend people I know who can help you include:
https://hmacadvisor.com/protection/
https://www.mortgageadvicebureau.com/mortgage-advisers/yogesh-maisuria/meet-the-adviser/yogesh-maisuria/
https://www.vmis.co.uk
https://wealthbyalex.com/
Get in touch with a financial expert
Stop repossession of your home with financial advice. Trained advisers are available for free via Shelter or the Citizens Advice Bureau. These bodies can provide impartial legal and financial advice and can help you find the support you need if you’re facing repossession.
The Debt Advice Foundation, StepChange and PayPlan also offer advice over the phone and have resources online to help you find a way to stop mortgage arrears.
1. https://www.shelter.org.uk
2. https://www.citizensadvice.org.uk
How quickly can a bank repossess a house?
It is entirely circumstantial however in the UK, a bank can repossess a house in as little as six weeks, but it can take up to 12 months or more within this time lenders will usually try to minimise their losses.
There are ways to try to stop repossession if you find yourself in those circumstances.
Sell your home
Whilst it can be upsetting, selling your home rather than it being repossessed is a potential final solution to stop repossession if you have run out of options.
Selling up can help you avoid going to court and having a black mark against your name financially in the future. This means you will be able to buy a property further down the line without your credit rating being affected by a repossession.
The consequences of having a black mark against your name (from repossession).
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Financial Consequences
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Credit rating damage – A repossession stays on your credit file for 6 years, making you look “high risk” to lenders.
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Harder to get a mortgage – Most high-street banks will automatically decline mortgage applications from someone with a repossession on record. Even specialist lenders (if they accept you) will charge much higher interest rates.
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Problems getting other credit – Even simple things like credit cards, car finance, or mobile phone contracts can be refused or come with higher costs.
Housing Consequences -
Difficulty renting – Many landlords and letting agents run credit checks, so a repossession can make it harder to secure a tenancy. You might need a guarantor or a larger deposit.
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Buying again is delayed – Even if your financial situation improves, you may need to wait several years before being considered for another mortgage.
Wider Consequences -
Stress and stigma – Some employers (especially in financial services) carry out credit checks. A repossession could affect job applications where financial responsibility is key.
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Ongoing debt risk – If the repossessed property sells for less than your mortgage balance, you’ll still owe the shortfall, and the lender may pursue you legally.
In short, a “black mark” from repossession doesn’t just mean losing your home — it can ripple into your ability to borrow, rent, or even get certain jobs for years afterwards. At Aarti Auction we want to stop this happening to you.
Stop the repossession of your home
Aarti Auctions can help you sell your home fast to stop repossession.
This means you can have cash in the bank in 28 days and immediately stop any problems you were going through and stop repossession of your home.
Aarti will personally guide you through the process, taking the stress away by facilitating a free and fast sale of your home and helping to stop repossession.
Get a free no obligation auction valuation today and find out how we can help you to stop repossession.
Discover how a auction sale can be a viable alternative to stop repossession, allowing you to sell your home and avoid the credit damage associated with foreclosure.
We understand how upsetting and draining trying to stop the repossession of a house is, which is why we want to provide you with an easy and completely free sale. We have a list of pre-qualified cash buyers who will buy your property, meaning you get a chain-free sale, and they can cover your legal fees too.
Call Aarti on 0777 2869656 to talk to her about your current circumstances and she will be able to help.
Selling Quickly
Selling a house quickly with Aarti Auctions to stop repossession. Selling a property quickly to stop repossession doesn’t have to be complicated.
Here at Aarti Auctions we aim to make the process of selling easy by following this simple process:
Step 1: Contact us
Step 2: Match with one of our Auction Houses
Step 3: Confirm the reservation price
Step 4: Sell your house for free with ease
Step 5: Complete your sale – Cash in the bank within 28 days.
Aarti Auctions - any home, any condition, any location
What’s included when selling a house with Aarti Auctions?
At Aarti Auctions we offer many benefits to our customers selling a house through our services. Here is what we have to offer:
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A free auction valuation and reservation price guidance.
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A dedicated expert who will be available throughout the process, whenever you need them.
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We aim to complete your sale as quickly as possible.
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Legal fees are covered by us, allowing you to sell the property fast.
Advantages of Aarti Auctions
Why Choose Aarti Auctions to sell your home?
Discover the advantages of selling your property quickly with Aarti Auctions:
Sell Quickly For Free
We recognise that you will have your own requirements when selling a property, especially when selling to stop repossession and we are happy to meet them to ensure you can sell quickly.
Get the best price for your property!
Unlike house buying companies that aim to pay you as little as possible, an auction creates a competitive bidding environment where buyers push the price up, helping you achieve the best possible value for your property.
House buying companies often take advantage of people in difficult situations by making low offers, knowing they need quick cash. I take pride in doing the opposite: ensuring my clients get the maximum return for their property, fairly and transparently.
At Your Convenience
We aim to take the hassle out of the selling process. We offer you the ability to sell quickly, meaning that you avoid the hassle of a traditional sale, which can often make the process even longer.
We’re property Selling Experts
Your personal auction expert Aarti will keep you informed as your sale progresses, and she will be available to answer any questions at any point in the process. Your home is often the biggest asset that people own so having an expert to speak to, I understand is very important instead of being passed down to a junior admin assistant which the majority of companies do.
Sell Your Home Without Fees
Sell your flat fast with Aarti Auctions. We don’t charge you commission and there are no hidden costs, we’ll cover your legal fees too.
However, don’t forget we are available on 07772869656 or via properties@aartipatel.uk should you want more information.
Get in touch with Aarti Auctions today to stop repossession of your home through a speedy and secure sale.