If you are struggling to meet your mortgage payments, remember you are not alone.
According to the Council of Mortgage Lenders, 17,000 houses were repossessed in 2006, a 65% increase on the previous year. And with interest rates on the rise, it's no wonder more and more families are feeling the pinch.
Having your home repossessed is hugely distressing, particularly if you have a dependent family. It can put a blight on your credit record, preventing you from borrowing in the future. But it need not come to that.
The Localhousebuyer team has dealt with many repossessions and saved many homes, even where the lender has already entered into court proceedings. We offer a number of options to help you avoid the stigma and costs associated with repossession. We will also help you through the legal process and assist with the associated paperwork.
You can either sell to us and move on, releasing cash from your home to cover your debts. Alternatively, you can remain in your home and rent it back from us. We even offer a buy back option, which means you can buy your home back from us at some stage in the future.
If you believe your home is in danger of repossession you need to act quickly to avoid your debts mounting, and further supplemented by management charges, solicitors fees and estate agency fees.
For advice on repossessions, visit: www.cml.org.uk/cml/consumers/guides/debt
