Stop My Repossession Guide
Don’t let the bank repossess your home! Stop repossession even 24 hours before eviction.
Being threatened with eviction from your property can be very frightening and stressful!
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 which can leave their owners with ongoing liability, a poor credit rating , and no home.
When a property gets 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 its 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 – these offer substantially less than market value. Families who would like to buy are discouraged from making an offer closer to market value as they cannot raise finance fast enough.
This can result in a horrible situation of a negative equity sale, meaning 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, up to 100% of the current market value, for your house, PLUS the opportunity to Sell and Rent Back a property via us locally at a reduced rate!
Even if you are due to be evicted in the next few days, through our Solicitors and County Court we can stop the court order & bailiffs. 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/or help you stay in your home.
It’s never too late to contact us and take control of your debt!
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If you prefer to deal with the court yourself, then we have detailed here a FREE guide called ‘Stop My Repossession’. We can also complete this free of charge for you by completing the form above, but here is our step by step guide.
Stop My Repossession Guide
Our Stop Repossession Guide is a 100% free way to stop your eviction without needing an expensive lawyer.
FACT: 95% of mortgage eviction warrants are stopped with our guide. 95% of mortgage repossessions are suspended with our help.
Disclaimer: This guide is general information, not advice! It’s given on a non-commercial basis, free of charge, and should be treated as public domain information. If you use this self help guide, we do not take any responsibility for any outcome. The alternative is to allow us to help you instead in which case we can instruct fully qualified solicitors to handle the case.
Stop My Repossession
We are confident that we can help you to stop the your property being repossessed and to keep your home if you follow the following stops to help yourself stop an eviction.
Step 1 – Speak with your lender
Many people get repossessed simple because they don’t communicate to their lender, even when they are trying to help you stop your repossession. Be humble and pick up the phone to your lender, ask for a new payment arrangement or more time.
Banks and Lenders have an obligation to 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 the thought of filling in your own court documents, and making a plea, can sound scary and difficult. Let us just dispel this myth and make it clear, going to court to stop your repossession is not difficult, and involves just a few template forms!
To stop your eviction you’re going to 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 are nothing like you see on T.V. usually it will be just you and the judge sitting around a table to discuss the situation, and make new arrangements.
Judges are very 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 a number of 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 a 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 additional 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 claims being progressed such as bank loan, equity release, or sale of other property etc. – This results in normally 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 who was previously unknown to the lender, and needs 2 months’ notice to relocate. This is covered under Mortgage Repossession Protection of Tenants Act. Result is usually a 2 month extension, however it can only be requested once.
The most important point to remember here, It doesn’t matter how many times you have already been to court.
You are allowed to apply to the court as many times as you like, regardless of how many broken arrangement you have had, or how much you owe in arrears.
However, each new application should be based on new information.
If you understand this then you can see there can be any number of new circumstances resulting in an extension, for example, you could apply for a new repayment arrangement, then in 2 months’ time due to a change of circumstances, you apply for 2 months to allow a ‘tenant‘ to move out. You may then decide to sell your property, giving you another 2 months, and later have money coming to you from a sale of assets at auction. Each time you just need to explain why the last order to stop the repossession failed, you can then apply for a new extension.
So long as your reasons are genuine and honest, there are no limits to the amount 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 8 months or more, thereby giving yourself time to get yourself back on your feet.
95% of mortgage possession orders and eviction warrants are stopped.
This is something Mortgage Lenders don’t want you to know, I’m sure during your calls to them, they have never once mentioned this to you!
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 call a hearing at court to stop a repossession or eviction of a home.
As we have already discussed the Judge wants to help you stay in your home, but he can’t help you unless you apply with this form. You can collect the form from your local county court, or you can download the form here:
You can either hand write the form, or type in 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. The judge will read this, and may want to discuss some matters, but it’s important to be clear in the form application.
The cost of submitting your application to stop your repossession (N244 Form) is £50, it’s also important to submit the form as soon as possible as some court desks have restricted opening hours, check beforehand.
At the court desk, the clerk will check the information and usually ask you to wait for 10 minutes whilst they book you into the court diary. Your appointment is normally 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 will usually send a representative to 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. Normally they will either say they agree with you and will ask the judge to suspend the order, or will say they will oppose you and ask for it to be dismissed. Either way it does not have any sway with the judge, he will take the information on your submission. Don’t worry and be relaxed as you have the odds stacked heavily in your favour!
We hope you find this advice helpful. Remember, if you want us to help you stop the repossession by buying your home quickly for cash please get in touch, don’t leave it until it’s too late!