Stop Repossessions

A repossession can be stopped once the process has started - and at Ziphouse, we would be more than happy to help.

The repossession of a property can happen when there has been a default on payments and the mortgage lender takes ownership of it. It is worth bearing in mind that a repossession is considered a last resort. However, needless to say, the repossession process can be an extremely unsettling and upsetting time for a home owner.

We work with a team of solicitors who can stop a repossession once proceedings have started. Selling your property to us for cash can be done quickly, freeing up funds to pay back any missed mortgage payments and secure alternative accommodation.

The repossession process in broad terms

1

Mortgage In Arrears

A mortgage lender will get in touch regarding any missed payments, looking to come to an agreement regarding repayments.
2

Legal Action

If no agreement can be reach or if payments continue to be missed, a mortgage lender can take legal action. Information will be sent regarding payments owed and a court hearing date, where the case will be heard and a decision is made. A judge can make different types of orders including an outright possession order (whereby a date is given for the homeowner to leave the property) and a suspended order for possession (the homeowner can stay at the property provided they make the requested payments).
3

Bailiffs

Bailiffs can be asked to remove individuals from the property if ordered in court.
4

The Sale Of Property

At this point, the property would be sold by the mortgage lender. The mortgage lender will take the amount owed and any costs incurred in selling the property. Any remaining money will be returned to the original owner. Note, if there is a shortfall in that the amount of money the property has sold for is less than the amount owed, then the original owner will be liable for this.

How Ziphouse Can Help

In selling your home, our solicitors will act quickly to stop the repossession and we will cover all legal fees. We will manage to process with the mortgage lenders and upon receipt of the money for the property, will re-pay the mortgage lenders and return the remaining funds to you.

Please get in touch with us to discuss more. Our team is sympathetic and approachable. We can be flexible to meet your individual needs and formate the best approach for your circumstances.

How Do We Compare?

ZIPHOUSE

ESTATE AGENTS

Sale Timeframe

1-3 Weeks

6-9 Months

AVG Market Value

£100,000

£100,000

Final agreed price after survey

£80,000

£92,500

Estate agent fees (2% VAT)

£0

£2,200

Mortgage Payments

£0

£4,800

Solicitor fees (£1,000 + VAT)

£0

£1,200

Bills and Repairs

£50

£1,800

Removals/Clearance

£0

£1,200

Final price to be paid to the seller

£79,950

£81,300

NOW YOU HAVE HAD A CHANCE TO LOOK AROUND WHY NOT SEE IF WE CAN HELP?