Have you been told by your estate agent or friends that you can hand keys back to the bank?
Well that could be the biggest mistake you are about to make – the good news is that we can help you avoid this!
Let’s suppose that you were to do because you could not afford to pay your mortgage – here is what the bank will do:
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They will start repossession proceedings against you. There is no such thing as fast repossession process because banks are legally obliged to adhere to strict procedures as defined by UK Law. Every letter sent from their legal team will add £80 to arrears. Each visit by the bailiff is charged at £300 plus not to mention their fat legal fees. You will become liable for all this if you are to be repossessed.
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Eventually when bank does take possession of property, they will put it up on market for sale via either estate agent or auctions. If property was on market for £100k asking price and they achieved £80k and your mortgage & arrears were about £90k they will come after you for £10k difference. And that is apparently what you signed up to in your mortgage terms and conditions.
The worst part is that your credit file is severely affected so if you work for Police, Armed Forces then your job could be at risk because of your poor financial state of affairs. Once repossessed, you will not be able to get credit again for 5 years, not even for utilities!
They will be chasing you for remaining balance and take you to court and declare you bank corrupt if they have to. Remember: Banks are mercenaries, they could not careless about us law abiding citizens, they are only after the money!
Good News: We can take over your mortgage payments, clear arrears, improve the property and agree to buy from you at a price agreed today in future typical 5 to 7 years. This fully legal process and once all paperwork has been done, you hand over keys to us. You will receive INDEPENDENT free legal advice too.
Please take a look at our Rental & Mortgage Guarantee Scheme.
If you like the sound of this, please fill in our enquiry form on right and we will call you back >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
