Repossession Questions

If you are worried about the prospect of having your home repossessed or are in need of a quick sale of your property for whatever reason then call Repossession Angels for a free, confidential chat. Our local Angel will outline some of the different options open to you in order to find the best solution to your situation.

To learn more about Repossession Angels and the service we offer we have answered a number of frequently asked repossession questions below:

What does The Free repossession Report contain?

The Free Repossession Report contains information about the repossession process, contact details for some support agencies and a personal finance workbook to help you calculate the current state of your finances

Which parts of the country do you cover?

Repossession Angels covers the whole of the country.

Do we offer remortgages and loans?

No.

I have already been repossessed, can you help?

We have in one case been able to help someone even after they were repossessed. We arranged for the arrears to be settled and the vendor got to live in their house with the option to buy back their home at a later stage. This was only possible because the person contacted us within 3 days of the repossession being actioned.

My repossession order is for tomorrow, am I too late?

We recently stopped a repossession order at 10:29 am when the order was due to be actioned at 10:30. We don’t recommend this but we frequently get requests for help with only 24 hours or less to go.

Do you offer rent back options?

We prefer to let properties back to their original owners. They tend to take more care of the property and not to move out. Hence we don’t have to find replacement tenants.

Do you offer buy back options?

Yes we frequently offer vendors the option to buy their property back. We normally offer options with a 2 to 5 year life span. The 2 year minimum enables us to obtain a competitive “Buy to Let” mortgage on your property which typically has a 2 year early redemption penalty. We would place restrictions on your option ie you pay the rent on time and the option lapses if you vacate the property. In one case, we created an option for the Children to Buy the property back at a later time.

What are my up front charges?

There are no upfront charges. Be very careful when dealing with companies that make charges such as upfront survey fees, especially if the charges seem high.

Do I have to pay for a survey?

No – you do not have to pay for a survey. We will have to have a survey to get a mortgage on your property, but that is our cost.

Are there any estate agents fees?

No – we do not use estate agents, hence there is no estate agents fee to pay.

My house is already registered with an estate agent. Am I stuck?

We would normally terminate the services of the estate agent, by getting you to give them notice that you no longer need their services. We may exchange then delay the completion of the purchase to ensure that the estate agents terms and conditions are met. The process of exchanging contracts is normally enough for the Court to suspend the repossession order. We may also just pay your estate agents fees.

How does Repossession Angels make money?

When we rent the property to you, we normally charge £100 per month on top of our mortgage costs.

What happens when I go to court?

That depends, if you have not upset the judge already by not turning up to previous court hearings, then the Judge will normally suspend the repossession for 2-4 weeks to enable the property to be sold.

I have been given a suspended repossession, what does that mean?

Click Here for the Repossession Process Details

Is my property suitable?

All residential properties that we can get a “Buy to Let” mortgage on, and having a rental value of 130% of Mortgage costs are suitable.

What state does my property have to be in?

If the condition of the property is poor, then you will get less money for the property. It is that simple.

Do you purchase “Buy to Lets”?

Yes we have.

My Buy to Let has a tenant?

If the tenant has a suitable short term tenancy agreement, then that will not be a problem.

Can you provide references

If you feel you need references, then we suggest that you talk to some of the professional people that we deal with on a daily basis.

Milton Keynes Solicitors

Milton Keynes Mortgage Company