Selling a house in Manchester facing repossession

What is happening, and who can help today

If your lender has started possession proceedings, the most useful thing on this page is probably not us. Free legal advice exists for exactly this, it is not means-tested, and you qualify from the moment your lender tells you it is seeking possession. The Housing Loss Prevention Advice Service covers mortgage cases as well as rented ones — you need something in writing showing possession is being sought, and that is the only test.

Three routes, none of which will charge you or sell you anything: the government’s own find a legal aid adviser tool lists the Housing Loss Prevention Advice Service as a category you can search for; National Debtline takes calls on 0808 808 4000; and Shelter’s housing helpline is 0808 800 4444, free from mobiles, open 8am to 8pm on weekdays and 8am to 5pm at weekends.

We are a buyer, not an adviser. We cannot stop a repossession. That is not something a buyer is able to do, whatever you may be told elsewhere. What a completed sale does is remove the mortgage, and the arrears with it. Whether that can happen in the time you have is a real question, and for some people the answer is no. Better to hear that now than after three weeks of hoping.

Can you sell and stay in the house?

What a sale does, and what it does not

Repossessed houses tend to fetch less than ones sold in the ordinary way, which is why most lenders would rather you sold it yourself than took it off you. It is also why a court can adjourn a hearing, or postpone an order, where a sale is genuinely under way. Whether that happens in your case is for the court, and for somebody who has read your paperwork. It is not for us to guess at.

If the house sells for less than you owe, the difference does not vanish. It becomes a shortfall and it is still your debt — a lender has twelve years to pursue the capital and six for the interest, and must tell you within six years of the sale if it intends to. Anyone implying that a quick sale makes that disappear is not telling you the truth.

What we can do is put a firm figure in front of you, in writing, with a date on it: something you or an adviser can show a lender or a court instead of a hope. We charge you nothing. There are no viewings, and no onward buyer whose own mortgage could collapse and take yours down with it. We buy anywhere in Greater Manchester, in whatever condition the place is in. If the figure does not help, you have lost nothing by having it.

What you need to know about property repossession

The stages of the house repossession process in the UK

Stage 1

As sooon as you’ve missed two or more mortgage repayments, your mortgage lender is legally able to start the repossession process for your house. Before they call on the legal system they will get in touch themselves, usually this won’t be through anyone at your local branch that you deal wtih regularly it will be through their debt management department.

Banks and other mortgage lenders are legally bound to treat you fairly and government pressure means they must be seen to do what they can to help you avoid repossession, they should offer advice and options to help you avoid repossession. The options your lender offers you vary depending on your exact situation but they may allow you to switch to interest only payments for a period of time, if you have equity in your home they might allow you to add the missed payments to the total left to repay, they may allow you to extend the length of your mortgage, or they may offer some other type of short term finance to deal with your problems.

There are two important things to do no matter what options your lender offers.

• Make sure you keep notes and request documentation of all offers they make, keep all correspondence so you have a record of what’s been discussed in case you need to rely on it later
• Seek independent financial advice and think very carefully about what’s offered. In some cases a short term fix may note solve your problems for good, but just create a bigger problem down the track – you shouldn’t enter into an agreement with your bank unless you’re sure it’s right for you and that you can meet your new commitments.

Stage 2

If a few more months pass of unpaid arrears to your mortgage letter, you will get a letter from them or more likely from their solicitor. The letter will warn you that they’re about to begin the repossession process for your home by taking you to court. At this time your lender can apply for a repossession order.

Stage 3

You will get a summons from the court. This will give you details of your hearing.

Stage 4

If you don’t turn up to court for the hearing to represent yourself or have professional representation then the repossession process will go through without any opposition. In this situation the judge must award the repossession order (or notice) against you.

If you do turn up to court, then you will have a chance to present your side of the story. At this point you should consider some sort of legal representation, your bank or mortgage lender will have a solicitor acting for them who is familiar with the process – hopefully this is something you’ve never had to face before and so it would be a very good idea to seek help from your own solicitor to make sure you’re treated fairly. The judge will hear evidence from both sides and then make a decision about what happens next, there are a number of possible outcomes:

• Repossession Order. This means your lender can repossess your home, usually within 28 days and is likely to happen if the judge believes you’ve made no effort to put the situation right, or if you have no chance of managing a reasonable repayment schedule.
• Suspended Repossession Order. If you’ve agreed that you will make all your normal monthly mortgage payments from this point on and you will pay something towards clearing the arrears and the judge is sure you can afford it, then the judge may suspend the repossession order. In this case it’s important that you do not default again, if you do miss another payment your mortgage lenger can force possession of your house or evict you without another court hearing.
• Case Adjourned. If the case can’t be heard for some reason on the date set, then a new date will be chosen.
• Case Dismissed. The house repossession process can be stop and the case dismissed if you have paid all your arrears and brought your mortgage back up to date.

Stage 5

This is the final part of the house repossession proccess. If the court judgement has gone against you and they’ve awarded a repossession order against you or you’ve missed another payment after being granted a suspended repossession order then your lender can apply for a warrant of eviction notice. This is a letter telling you that you are legally obliged to leave your home. In most cases you’ll have between 7 and 14 days to leave before a bailiff is sent to physically remove you.

There are several steps to the house repossession process and this guide is an overview of what happens. The most important thing is to act quickly as soon as you get behind on payments, talk to your lender to see if they will offer a way out and make sure it is something that you are comfortable with and you can meet your financial commitments in the future. Make sure you understand any offer the lender makes and read the fine print so you don’t encounter problems later on.

If you are in trouble seek help at the start to try and avoid the social and financial stigma of repossession. You should consider selling your house yourself if you don’t have options to meet your monthly repayments – you are likely to achieve a better price than the property will get if it’s sold as a repossession and you avoid the long term damage to your credit file.

Repossession can be avoided – but you must act quickly

Repossession is one of the most frightening and difficult situations any homeowner can face. The home that you’ve worked hard to buy, your kids have grown up in, near your friends family, can be taken away by the bank with you having no say in what happens to it.

What to expect if you’re bank or mortgage lender seeks repossession:

• A court hearing where the bank will seek possession of your property
• The reality is that repossessed homes normally sell for much less than properties that are occupied
• Eviction by bailiffs if you do not leave your home yourself before a set date

Selling to a quick house sale company like us: a viable solution

What are quick house sale companies?

Quick house sale companies allow homeowners a fast solution to sell their property, typically buying the property directly from the homeowner or finding a third-party buyer swiftly. This type of service can be a lifeline for homeowners facing repossession, offering a fast, hassle-free sales process.

Process of selling your house to a quick house sale company

Initial contact and property valuation

The process is straightforward and starts with a discussion of your circumstances, your requirements and the valuation of your property. We will typically provide a no-obligation offer based on this initial evaluation.

Sale agreement and completion

If you accept the offer, the we will then proceed with the paperwork, working towards a fast completion and settlement of any outstanding mortgage.

Important things to note when choosing a quick house sale company

Company’s ability to buy

Always make sure that the company you want to use has experience in the field of buying houses quickly. This will ensure that you get a fast transaction of your house.

Transparency and communication

Transparency is key. A reputable company will communicate openly about their processes, fees, and any potential issues that could arise during the sale.

Frequently asked questions (FAQs)