Repossession

If you are unable to consistently meet your mortgage repayments (or any other loan secured upon your property), you run the risk of having your home repossessed and being evicted.

Repossession doesn’t happen automatically, and the process can often be stopped at any time. As soon as you are threatened with repossession it is important to take action immediately – depending on your circumstances it might possible to stop the process if you act quickly.

Most lenders will only repossess homes as a last resort, and will usually attempt to solve the problem by other means. The options available to you will depend on which type of mortgage you have, how far behind you are with the payments, and the reason for your arrears.

As soon as you realise you are finding it difficult to meet your mortgage payments, and could face the possibility of repossession, contact your lender to discuss your financial situation. Ignoring the lender’s phone calls and letters won’t make the problem disappear, and could increase the possibility of court action being filed against you.

Wipe your slate clean with The More Group

The More Group offer Clean Start Remortgages to borrowers who are facing the threat of repossession, but are unable to reduce the amount of arrears due to overwhelming debts and increasing credit problems. An exclusive product aimed at applicants who would get declined by other lenders, Clean Start Remortgages might provide an opportunity for homeowners in difficulty to get their finances back on track.

Our Lending Criteria:
Up to 8 months outstanding arrears with prime lenders and 5 months with sub-prime lender.
Proof of last 1 month’s payment.
Must be able to show an improved debt position after remortgaging.

What we can offer:
LTV – Up to 90% (interest loadings from 80% and above)
Maximum Loan - £500,000