Consequences of House Repossession

If you get repossessed you will lose your house. You will be homeless and will need to find an accommodation without any delay.

Passing through the time of house repossession is extremely emotional, as you are losing the family home. Parents and children both feel ashamed at their move from the position of "owner" to that of a "renter".

How House Repossession May Affect

House Repossession may affects people in the following ways:

• Change of social status and identity.
• Effects on personal and family relationships.
• Mental and physical health and well-being.
• Future hopes and aspirations.
• Effects on the happiness and security of children.
• Standard of living.

To Find New Accomodation

To find a new alternative accommodation is hard task. Your options are:

• buy an affordable house (depends if you are eligible to get mortgage)
• get a house on rent
• stay with family or close friends
• apply for co-operative housing
• apply as homeless and seek a shelter

Some people believe that once they get repossessed they will have a clean slate financially. However, the repossession itself involves extra costs, such as court fees. If all the money is not recovered from the sale of house you will remain liable for any debt remaining, especially if negative equity in the house is there.

If you get repossessed you will have a poor credit rating. This can make you ineligible for any other mortgage. Your name will be put in Possessions Register, held by the two major British credit reference agencies, Experian and Equifax.

It is crucial that you leave no stone unturned to stop your house repossession.

We can save your house, you may not have to sell it

You need to act quickly, so that our team of experts, at Save My Cave, can analyze your situation and suggest the most optimum solution to stop repossession of your house.
You can call FREE on 0800-43-22-999, to speak with our advisor. Or fill out 2 minutes Consultation Form to provide us information about your situation.