Avoiding Repossession With A Home Buying Service

Having your property repossessed can have long-lasting impacts on your financial situation as well as provide difficulty in securing a mortgage further down the line. A quick way to ensure it doesn’t happen to you, though, is by contacting a home buying service such as Spring.

Why Do Repossessions Happen?

Repossessions happen as a result of mortgage payments being missed. For most lenders, repossession is only ever considered after three missed payments, however this can vary. In addition to this, there is typically a 15 day grace period from the day the payment is missed to when the lender will contact you. As we said though, this is not set in stone and can vary from lender to lender. If you are unsure of your terms regarding mortgage payment arrears, get in touch with your lender to discuss.

How can you avoiding your property being repossessed?

Once you are in arrears, getting back on top of your finances and payments can be difficult and even more daunting than before. But avoiding repossession altogether is always an option. Maybe the most direct step you can take: talk to your mortgage lender early. By highlighting any potential difficulties you may encounter, you could be able to renegotiate the terms of your mortgage, if not permanently then certainly on a temporary basis. Acquiring a Repossessions Loan is maybe another option that could apply to your situation. These loans are typically given to those with a history of good credit and reliability in settling debts. Another option which may seem obvious is to reassess your income and expenses. See how you can immediately improve your financial situation. Much like renegotiating the terms of your mortgage, this may only have to be a temporary solution however one that can have a significant impact on your ability to comfortable pay your mortgage again. While these options may offer you a slight extension or a very brief olive branch, there is no guarantee that it will provide you with the financial means to avoid your property from being repossessed. This is where Spring are on hand to help. We are the nation's leading home buyer with decades of experience in helping people avoid repossession and the fast selling of properties.

Why choose Spring?

There are a number of reasons as to why choosing Spring would be the right move to help you avoid repossession.

We Buy Any House

Whether you have recently had a new kitchen fitted or whether the doors don't close properly, Spring are on hand to guarantee you a sale on your home, quickly and with no hidden fees. As a private property buyer, you will not have to worry about negotiating with potential buyers or even spend time renovating ahead of viewings. Instead, Spring offer a buying price (typically a fraction under market value to account for fees) and can begin the buying process at your earliest convenience.

Dedicated Property Advisor

Our main priority is ensuring that you have the breathing space needed during this stressful period; we want our customers to be able to start planning their financial future as soon as possible. This is why our dedicated property advisors offer a hands-on approach to help alleviate as much as stress as possible. They can also deal with many of the more challenging tasks such as contacting your mortgage lender and letting them know that the property is being sold.

No Hidden Fees

If you are facing repossession, there is a high possibility that you are experiencing some financial difficulty. If this is the case, hidden fees and surprise bill would be the last thing you would want. At Spring, we are completely transparent about fees. We apply a one-off fee for our home buying service, meaning there is nothing hidden and nothing extra to pay.


Will Spring buy my house no matter the condition?

Yes, absolutely. We buy any home in any condition, location, shape and size.

How quickly will I receive the cash from the property sale?

Our extensive funding allows Spring to complete your home sale and proceed with payment in at little as 7 days. You are in control and you pick a completing date to suit your onward move. Our team will keep you updated at every stage of your journey, so you will know what and when the exact amount will be paid. Spring are experts in buying properties with dedicated property advisers who are there with you every step of the way. For more information on how we can help you avoid repossession by buying your property with ease, speed and certainty, call us on 020 8629 7877 or email us at sales@springmove.com.

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