Posts Tagged ‘Repossession Help’

Report: Home repossession in UK falls further

Friday, October 22nd, 2010

In the second quarter of the financial year, the number of home repossessed by the mortgage lenders has fallen further. In the last quarter, the lenders have seized 9400 properties in the last quarter according to a report by the Council of Mortgage Lenders (CML).

Home repossession has now fallen for three consecutive quarters since they had reached a peak at 12,100 in September, last year. The total number of mortgages in arrears also dropped 5% during the quarter to stand at 178,200 by the end of June. However, the situation is not really as healthy as it sounds. The safety net for the borrowers is weakened by higher interest rates, a rise in the unemployment and also reduced support from the government regarding mortgage payments.

The CML estimates that only around 39000 homes might be repossessed this year, which is down from CML’s previous estimation of 53000. This estimation comes with support from the courts in England and Wales where the property repossession by the lenders has fallen yet again. The statistics by the Ministry of Justice show that the claims of house repossession by the lenders have fallen by 5% to 17774 in the second quarter of this year.

Although the picture is not rosy, however, there are options available. Stop home repossession is a trading portal for the Yellow Springbok, one of the leading property buyers of UK. And we have access to substantial funds through our network of cash investors. In case you are looking for ways to stop house repossession, we can make you an offer within 48 hours.

Choose the right thing at the right time and live a stress free life.

Best tips to avoid home repossession

Thursday, September 23rd, 2010

If you want to avoid home repossession at any cost, then stop ignoring the repossession problem. There is a campaign that is launched by the national government which provides information about repossession. This campaign also helps those distress home owners who are falling behind in their mortgage payments. This campaign is welcomed by the Council of Mortgage Lenders (CML) and covers the following points:

  • Be aware of the looming repossession problem. Tackle it head on.
  • As soon as you realize that you have a difficulty in paying the mortgage payments, talk to your lender openly and honestly.
  • Think proactively. If you have never missed any mortgage payments till date. But you fear that you might miss one in the future due to the present financial scenario, your lender is there to help.

If you pay heed to the above advice, and take appropriate precaution, you would not be evicted from your home. But in case you are already neck deep in debt and struggling to pay your mortgage debts, then it’s time to act immediately. It’s never too late to talk to your lender about the financial crisis that you are facing. Take repossession help from the government campaign about the mortgage payments for the struggling home owners that are mentioned above.

If you are still being threatened by house repossession, the best option will be to get in touch with a cash buyer and sell off your house quickly. You have a choice to rent it back immediately from them after selling.

We are a firm which deals with private property buyers all over England. If you decide to sell your home quickly, please contact us now to get help.