Your situation
Selling when you are behind on the mortgage
Falling behind on a mortgage is frightening, and the letters do not help. What you need to know is this: a lender would nearly always rather be repaid than repossess, and a sale you control will almost always leave you better off than one they force.
We buy quickly and on a fixed date. That gives your lender a reason to pause, gives you a known figure to plan around, and lets you move on rather than waiting for a court date.
How we handle it
What happens, step by step.
- 01
Tell us how much is owed and where things stand
How far behind you are, whether the lender has started proceedings, and any dates you have been given. This is confidential and nothing you say obliges you to sell.
- 02
A written offer the next working day
A firm price and a completion date. If a hearing is looming we say plainly whether we can complete before it, and if we cannot we tell you what we can do instead.
- 03
We tell the lender there is a sale
With your permission our solicitor contacts your lender's solicitors with the offer and the date. Lenders routinely adjourn proceedings when a genuine sale is progressing.
- 04
The mortgage is cleared on completion
The lender is paid from the sale proceeds by your solicitor. Anything left after the mortgage, any other charges and your solicitor's costs comes to you the same day.
What you will need
- Your most recent mortgage statement, and any arrears or default letters
- Any court papers or dates you have been given
- Details of any second charges, secured loans or charging orders
- Photo ID and proof of address
Do not worry if you cannot find everything. Tell us what you have and we will work out the rest with your solicitor.
Good to know
The things worth knowing before you decide.
Get free debt advice as well
We buy houses; we are not debt advisers. StepChange, National Debtline and Citizens Advice all give free, independent advice and can talk to your lender on your behalf. Speaking to them costs nothing and does not stop you selling to us.
If the sale would not clear the mortgage
Sometimes the property is worth less than what is owed. We will tell you straight if that is the case. A shortfall sale is sometimes still possible with the lender's agreement, and your adviser can help with that conversation.
We never cold call and we never rush you
A firm offer in writing, a seven day cooling off period after you accept, and legal fees paid with our partner solicitor. If someone has knocked on your door offering to buy, be careful.
Our promise
The same firm offer whatever the situation.
Below open market value, in writing the next working day, with a completion date you choose and the workings shown in the letter. No fees, a deposit paid to you on exchange, legal fees paid with our partner solicitor, and 7 days to change your mind.
See exactly how we priceAny condition. Any reason.
Questions
Questions about behind on the mortgage sales
Often, yes, when we buy with our own funds. It depends on how close the date is and how quickly your solicitor can move. We will give you an honest answer on the first call.
Related
Other situations we handle.
Find out what we would pay. Three minutes, and it commits you to nothing.
A written offer the next working day, from people you can name.