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Mark King Properties - South Wales

Stop House Repossession

Mark King Properties can stop the repossession of your house today! Call Now!

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Stop the repossession of your or any home today with help from Mark King Properties.

I can help you avoid repossession of your home in a number of ways. If you want to sell your home quickly and take the equity out of your home then I can buy it for cash and I will make you an offer on the same day. I am able to complete the sale in just 7 days and we buy any house in any condition.

You benefit by avoiding eviction, estate agents fees, delays and losing money from a forced house sale by your lender.

Missing Mortgage Payments

Lenders will often start repossession proceedings once you have missed a few mortgage payments. They instruct solicitors to apply to the courts for a repossession order, which will eventually lead you to become evicted. The lender will also look to recover their money quickly and will often sell your home at a reduced price. This is often done through auctions.

House Repossessions are a very sad, real and worrying situation.
In England and Wales during 2014, 7958 claims were made leading through to a court order of successful house repossession proceedings.
Thankfully this number has decreased a lot since the 2007 financial crisis, but that is still a lot of vulnerable people needing to find somewhere else to live safely and securely.

Basic Rules of a House Repossession

According to Shelter, repossession should only happen as a last resort and can only legally be enforced if your lender follows the correct legal process.

There is a correct protocol that MUST be followed.  Before this protocol can start, the lender must work with you (as part of the rules) to try and come to some agreement on payment options. At this point, you must communicate and cooperate with your lender, be very clear and honest about what you can and cannot afford.

The objective of this part of the protocol is to come to an agreement covering any arrears and negotiating an affordable way for you to repay your mortgage.

Helpful Facts When Dealing With a House Repossession

The government has implemented a 3-month moratorium, giving borrowers a 3-month window to aid attempt of sorting out the situation before the repossession proceedings start.
Royal Bank Of Scotland has announced that it will give its lenders 6 months before any action is taken on a House Repossession.

Given the time it normally takes to validate, prepare a case study, involve legal bodies and actually proceed with the protocol activity there is normally around a 9-month window before anyone is forced out of their home and declared ‘homeless’. This allows a period of time in which alternative solutions can be considered.

On an annual basis, it costs the U.K government a lot of money to re-situate and rehouses those deemed homeless and as a result of this, the government has extended the range of benefits and initiatives with the objective of keeping people within their homes.
If you are ever in a situation where you may be declared as homeless, seek to advise, consider alternative options and don’t be afraid to ask for help.

Get a Full Cash Offer For Any South Wales Property From Mark King Properties.

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