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Repossession Process

Revival Repossession Solutions – Repossession Process Overview

Borrowers that fail to make mortgage payments or repayments on any loan secured on their property in time run the risk of falling into “arrears”. If the situation continues to escalate then they could be in danger of having their home repossessed.

Under the terms of the mortgage contract, lenders have the power to take back control of the property and sell it to recover any arrears and outstanding balances. However in these circumstance  it is very likely that the lender will eventually sell the property for a knock down price at a public auction. If you are in negative equity or your loan is higher than 80% of the value of your property (LTV) it is also likely that the sale will not cover the debt to the lender and they will still pursue this from you.

In many cases this can lead to Bankruptcy as the only way of moving on in life without the burden of a huge debt with nothing to show for it.

There are however several stages where borrowers have the opportunity to prevent this from happening.

The following is a general overview of the stages involved with the repossession process:

The Key is to contact your lender as soon as you know that you are staring to struggle, always make contact with the lender in writing and send all letters recorded delivery. If you are unable to communicate with your lender or you want specialist help then call the Repossession Team on 0800 567 7547 for an assessment of your case.



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Offices: 489 Chester Road, Old Trafford, Manchester, M16 9HF Hours of Business: Our offices are open between Sat-Thur 9.00am - 6.00pm & Fri 9.00am - 2.00pm. All legal and court work is undertaken by our panel of SRA Regulated Solicitors based in England and Wales. The SRA's rules can be found in its Code of Conduct. All Our Solicitors are admitted as solicitors in England and Wales and regulated by the SRA. the Solicitors Code of Conduct can be accessed: www.sra.org.uk/solicitors/code-of-conduct.page
All our Court Representatives are drawn from legal backgrounds and include Solicitors, Barristers, Legal Executives and Paralegals with either BVC, LPC Qualification or were previously employed in Solicitor Practices as fee earners. We do not use trainees or in-experienced personnel, and select carefully to maintain our name and our reputation. All legal and court work is undertaken by our panel of UK Solicitors. We do not use trainees or in-experienced personnel, and select carefully to maintain our name and reputation. We do not offer services in Scotland and Northern Ireland.