Repossession explained

Repossession is without an doubts very serious and very scary. You are not alone: we can help you avoid repossession.

Reposssession is a legal process whereby a lendor will attempt to repossess a property it has a legal charge on because the debtor is not able to make the repayments as defined in the terms and conditions of the lending agreement signed between the 2 parties. This practise is often used by lenders to repossess and then sale houses belonging to homeowners unable to make their mortgage payment on time.

It is extremely important to understand that you must answer without any delays any calls or letters from your lender about your possible repossession. Never ignore your lender. If you ignore them they will likely go harder on you. If you call them back and discuss your mortgage arrears and their intention to repossess your house, you might be able to agree on a possible way out.

Lenders are in the business of lending money, they are not in the business of repossessing houses. All that your lender really wants is for you to continue repaying your mortgage, they don't actually want to repossess your house.

In the very unfortunate event that you cannot reach an agreement over your mortgage arrears and their claim for repossession, your lender will continue the repossession process against you and request you to pay up your mortgage arrears. You must then take radical actions as if you don't pay up your mortgage arrears; your lender will eventually repossess your house.

Repossession is a long, difficult and painful process with many detrimental consequences for you and your family. If you are under threats from repossession, you must take action now!.