Best Property Company 020 7610 5566

Repossession FAQ

Repossession's Frequently Asked Questions

We've compiled some of the most common questions our clients put to us with regards to repossession. However, if you have a question and want it answered straight away please call us on 0207 610 5566.

What Shall I do if I cannot attend a court hearing?

It is crucial to attend court, it will show basic commitment to the Judge and can stand in your favour if you want to negotiate with your lender. If you have a joint mortgage then only one of you needs to attend court. If for whatever good reason you cannot attend court, we recommend you write a letter to the Judge and Lender and explain your situation giving evidence where possible.

I was told I need a solicitor to represent me, is this true?

Solicitor in London can charge anywhere from £150-£400 per hour + VAT so we think your money is probably better spent paying off the arrears rather than solicitor bills, we do all the same work a solicitor does for you, but we don’t charge you a penny. Some Courts / Citizens Advice Bureau has debt counsellors available at repossession hearings.

I have received letters from Bailiffs; surely it is too late for me save my home?

NO – you can still stop the repossession and eviction but you need to act quickly, we can write to the courts/lenders explaining that a sale of your house if going through and complete the conveyance in a few days rather than a few months as most people do.

Can you stop an eviction on the same day?

YES – this is very hard and depends on how effective the court and your lenders litigation department’s communications lines are. We have in the last stopped an eviction the same day by exchanging and completing contracts with the vendor. Please note we cannot guarantee this transaction for every property the only way to truly find out is if you call us on 0207 610 5566.

Can I not just hand back the keys to the bank?

NO – this was common in the crash of the late eighties and early nineties. The best option is to talk to us and your lenders to find a suitable and sustainable solution. If you hand the keys back to your lender you will still be responsible for arrears that will be mounting up. Also lenders can charge a dozen extra fees and even worse if there is a sale shortfall the lenders have the legal right to chase you for 12 years to recover any losses.

Do you charge for your services?

No, we buy property. We understand that not all the clients that call us we will buy their property; we have seen many times in the past that if you help someone stay in their home and not face repossession then we will be recommended to other parties which might need our services also.

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