How to stop a mortgage repossession?

Don’t let the bank repossess your home! Stop repossession even 24 hours before the eviction.

Being threatened with eviction from your property can be a very frightening experience.

It is essential to understand the eviction process to know your options.

It is crucial to act fast as soon as you receive an eviction notice, if not sooner. As soon as you are aware mortgage arrears are building up, and you cannot service the mortgage, you should seek to sell the property if you don’t have any other option.

Lenders can quickly take legal action and commence the house repossession process if you cannot meet the monthly payment. 

The eviction Moratoriums under COVID-19 are no longer in place and do not avert the threat of repossession.

Mortgage arrears will affect your credit score on your credit file and hamper your ability to take out loans.

A Mortgage lender will have a secured loan on your property if you fail to keep up with the mortgage payments.

Property Cash Buyers can pay off your arrears and stop an eviction. We can make an offer on your home – giving you a guaranteed sale – within 24 hours! Repossessed properties are often sold at auction, leaving their owners with ongoing liability, a poor credit rating, and no home.

When a property is repossessed, the lender will ask local agents to list the property for sale. Typically, there is no work done at the property, and with boarded-up windows and doors, it turns from a happy family home into a cold pile of bricks – further reducing the value.

The lender then pushes for a sale, but due to the speed at which they want to move to recover their loan, they will often only target local cash buyers – this offer substantially less than market value. 

Families who want to buy are discouraged from making an offer closer to market value as they cannot raise finance quickly.

This can result in a horrible situation of a negative equity sale. Even after the bank has repossessed your house. The sale price may not cover the loan plus all the fees third parties, i.e. Estate Agents and Asset Management companies’ charges. 

This debt is then passed back to you as the previous owner and can result in debt collectors chasing you for £ 1,000’s – even after losing your home!

There is a solution to this; let us stop your property repossession today!

Property Cash Buyers can offer you an immediate sale for your house up to 100% of the current market value!

Even if you are due to be evicted in the next few days, we can stop the court order & bailiffs through our Solicitors and County Court. 

Few people know that the Courts want to help homeowners, and we have all the experience to stop the repossession today and secure the market value of your home and help you stay in your home.

It’s never too late to contact us and take control of your debt!

Get a 60 Second Valuation Now!

If you prefer to deal with the court yourself, we have detailed a FREE guide called ‘Stop My Repossession’. We can also complete this free of charge for you by completing the Form above, but our step-by-step guide is here.

Stop My Repossession Guide

Our Stop Repossession Guide is a 100% free way to stop your eviction without needing an expensive solicitor.

FACT: 95% of mortgage eviction warrants are stopped with our guide. 95% of mortgage repossessions are suspended with our help.

Stop My Repossession

We are confident that we can help you stop your property from being repossessed and keep your home if you follow the following steps to help you stop an eviction.

Step 1 – Speak with your lender

Many people get repossessed because they don’t communicate with their lender, even when trying to help them stop their repossession. Be humble and pick up the phone with your lender, ask for a new payment arrangement or more time.

Banks and Lenders must Treat Customers Fairly, particularly in cases of financial distress. This should be your first action! The worst outcome is they say no, so nothing lost, nothing gained.

However, if due to previously failed arrangements, missed payments, or they don’t accept your budget is affordable, you will have to take matters into your own hands.

Step 2 – Making a plea to court.

Most people will never meet a Solicitor, let alone a Judge in Court. Therefore, filling in your court documents and making a plea can sound scary and difficult. 

Let us dispel this myth and clarify that going to court to stop your repossession is not difficult and involves just a few template forms!

To stop your eviction, you will need to request a county court hearing (Form N244) and attend the court, where you can make new arrangements with the Judge to suspend the eviction warrant. 

The atmosphere in courts is nothing like you see on T.V. usually, you and the Judge will usually sit around a table to discuss the situation and make new arrangements.

Judges are keen to avoid repossession; they will consider all valid reasons to help you and let you and your family stay in your home, thus avoiding eviction.

Eviction Warrants can be suspended for several reasons, including new information. Here are a few examples of the type of new information someone could provide to the court.

  • An arrangement to repay the arrears over time. This is called the S36 Administration of Justice Act – Results are usually a permanent agreement long term.
  • Additional time to sell your property – This usually results in a two-month extension, followed by extra time if you can demonstrate a buyer has been found.
  • Possibility of a lump sum to repay some or all arrears; this could come from an inheritance, redundancy payments, compensation payments, or other progress claims such as bank loan, equity release, or sale of other property etc. – This results in typically a 2-month extension followed by a further extension if progress is shown.
  • The previously granted Suspended Possession Order is up to date and should remain in place.
  • An existing tenant was previously unknown to the lender and needed 2 months’ notice to relocate. This is covered under the Mortgage Repossession Protection of Tenants Act. The result is usually a 2-month extension. However, it can only be requested once.

The most crucial point to remember here is, it doesn’t matter how many times you have already been to court.

You can apply to the court as many times as you like, regardless of how many broken arrangements you have had or how much you owe in arrears.

However, each new application should be based on further information.

If you understand this, you can see there can be any number of new circumstances resulting in an extension. So, for example, you could apply for a new repayment arrangement, then in 2 months, due to a change of circumstances, you apply for two months to allow a ‘tenant ‘to move out.

You may then decide to sell your property, giving you another two months, and later have money coming to you from a sale of assets at auction. Each time you need to explain why the last order to stop the repossession failed, you can apply for a new extension.

So long as your reasons are genuine and honest, there are no limits to the number of times you can apply. Ideally, these are helped if you can supply supporting evidence such as employers’ letters, estate agents’ listings, solicitor letters, tenancy agreements, etc.

In the simple example above, you will have extended your time by eight months or more, giving yourself time to get yourself back financially.

95% of mortgage possession orders and eviction warrants are stopped.

This is something Mortgage Lenders don’t want you to know; I’m sure they have never once mentioned this to you during your calls to them!

How to use the N244 court form to stop a property repossession.

The N244 is the Form you need to complete. It’s what is required to request a court hearing to stop a repossession or eviction of a home.

As we have discussed above, the Judge wants to help you remain in your home. However, the court cannot help you unless you apply to the court with this Form. You can collect the form from your local county court, or you can download it from our website:

You can either handwrite the Form or type it on the computer.

The information you provide on the Form is more important than anything else. A well-written form will do most of the work at the hearing for you. Of course, the Judge will read this and may want to discuss some matters, but it’s essential to be clear in the form application.

The cost of submitting your application to stop your repossession (N244 Form) is about £175. It’s also essential to submit the form as soon as possible as some court desks have restricted opening hours; check beforehand.

The clerk will check the information at the court desk and usually ask you to wait for 10 minutes whilst they book you into the court diary. Your appointment usually is 3-7 days from the application. However, if you have an eviction date sooner than this, they will prioritise the case.

Tips and advice for the hearing day

  • Always arrive early, this will make a good impression.
  • You may take a friend for moral support; some courts will offer a free duty solicitor.
  • Don’t be afraid; it’s not live on the T.V. shows.

The mortgage lender advocate will usually discuss the submission. They will usually ask to speak with you in a side room before the hearing. However, don’t worry, as this will not affect the outcome. 

Usually, they will either say they agree with you and ask the Judge to suspend the order or say they will oppose you and ask for it to be dismissed. 

Either way, it does not add any wieght with the Judge; he will take the information on your application. As you have the odds stacked heavily in your favour! Don’t worry and be relaxed.

We hope you find this advice helpful. However, if you want us to assist you to stop the repossession by buying your home quickly for cash. We suggest you contact us as soon as possible and not leave it until it’s too late!

If you are unsure about your rights and cannot meet the mortgage payments, you can seek legal advice from a solicitor.

Disclaimer: This guide is basic information and is not intended to offer legal advice. You should seek legal advice from a solicitor before taking any decision based on this blog.

The alternative way is to permit us to help you instead, in which case we can instruct fully qualified solicitors to handle the case.

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