The short version
- Talk to your lender early. Regulated lenders must treat repossession as a last resort.
- Free, independent debt advice is available from MoneyHelper, Citizens Advice, StepChange and Shelter.
- Before court action, lenders must follow the Pre-Action Protocol for mortgage arrears.
- Selling before repossession usually gives you more control over the price and timing.
Get free advice first
Before you decide to sell, speak to a free, independent adviser. They can check whether you are entitled to support, help you put a realistic payment proposal to your lender, and represent you at court in some cases. Be cautious of anyone charging upfront fees to 'stop' repossession.
- MoneyHelper: free government-backed money and debt guidance.
- Citizens Advice: local advice, including on mortgage arrears.
- StepChange: free debt advice charity.
- Shelter: housing advice, including on repossession hearings.
What your lender has to do
Mortgage lenders regulated by the Financial Conduct Authority must deal with you fairly if you fall into arrears. That includes giving you information about what you owe, considering reasonable requests to change how you pay, and not repossessing unless all other reasonable attempts to resolve the position have failed.
Before going to court, lenders must also follow the Pre-Action Protocol for possession claims based on mortgage arrears. Many lenders have also signed up to the Mortgage Charter, which includes a commitment not to begin repossession within 12 months of the first missed payment without the customer's consent, except in exceptional circumstances.
Why selling yourself can be better than repossession
If the lender repossesses, it will sell the property to recover what it is owed, and costs are added to your debt. If the sale does not cover everything, you may still owe the shortfall. Selling yourself lets you choose who you sell to and when, and can reduce the costs and arrears that build up while a repossession runs its course.
Tell your lender if you are selling. Lenders will often give time for a genuine sale to go through, especially if you can show a buyer and a timetable.
If you already have a court date
Do not ignore court papers. Fill in the defence form, go to the hearing, and get advice beforehand. The court can adjourn or suspend a possession order, for example to allow a sale that is already in progress. Evidence of an agreed sale with a realistic completion date can help.
How Verified Property Buyers can help
- We can move quickly once you have taken advice and decided to sell.
- We put our offer and proposed timetable in writing so you can show it to your lender or the court.
- We never charge fees, and we will tell you honestly if a sale would not clear your mortgage.
Want to see what waiting could cost? Try the selling-cost calculator, check recent sold prices, or request a cash offer.
Common questions
Can you stop my repossession?
No buyer can promise that. A completed sale repays the mortgage, and evidence of a genuine agreed sale can persuade a lender or court to allow time. Get free advice first.
What if I owe more than the house is worth?
This is called negative equity. Speak to a debt adviser and your lender before agreeing any sale, because you may remain liable for the shortfall.