HOME REPOSSESSION QUESTIONS

Can I hand back the keys and be done with it?
NO!  You will still be responsible for all costs associated with selling the house including lock-smith fees, real estate agent fees, surveyors fees and utility bills.  You are still responsible for the mortgage until the house is sold and this could take months.  If the house is sold for less than you owe, you’ll have to make up the shortfall and if you don’t pay the   balance, you may be chased by the lender for up to 12 years (five years in Scotland) after they sell the house.  Your lender will put your name on the Repossession Register, making it almost impossible to get a future mortgage.

Eviction order - Is there anything I can do?
Yes, give us a call.  We may be able to help you stop repossession.

Will my credit rating be affected if my property is repossessed?
Yes.  The lender will register the repossession, making it very difficult to buy another home in the future.  The County Court judgment against you will remain on the Register of County Court Judgments for six years.

What should I do if I can’t attend my court hearing?
Court hearings provide an opportunity for your case to be heard by a judge.  This can be to your advantage.  If you are unable to attend, put forth your case in writing and let the court know what you proposed plan of action is.  If the property is jointly owned, your partner can attend without you.

Can I go to court without a lawyer?
Yes you can.  Lawyers are expensive (from £130 an hour) and you would be better to spend such money on repaying your arrears.  Your Citizen’s Advice Bureau can provide a debt counselling service and the debt counsellors can attend repossession hearings. 

Repossession is imminent – can it still be prevented?
It is possible to stop repossession even with only 24 hours to go, but that does depend on your circumstances.  We can intervene on your behalf and find great solutions for you, but you need to take the first step and give us a call. 

How much do St Genix Property Investors charge for their services?
We never charge fees.  If we are able to help you we will facilitate the process and cover all fees including those charged by valuers, real estate agents and solicitors.

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