Top Tips to Stop Repossession

publication date: Nov 20, 2008
author/source: Kate Faulkner

1. Talk to your lender, ideally prior to missing a payment. Organise a face to face meeting with the lender to explain what the problem is, how long it could last for.

2. Depending on how long you have had the property you can reduce the mortgage repayments by extending the number of years you pay it back (usually 25 years, but it could be 30 years).

3. Check to see if you can’t get a cheaper mortgage that you can afford via another lender.

4. Consider renting a room out in your main home – you can earn up to £4,250 per year tax free.

5. Take on more work such as overtime or a second job that allows you to meet your payments. This doesn't have to be boring, why not work in a pub or a fitness centre, somewhere you enjoy being?
6. Look at renting your home out short term – and living somewhere else if it covers the costs of your mortgage.

7. Contact your local Citizens Advice Bureau or the National Debt Helpline for FREE help to sort out your financial problems.

8. Ask your local Housing Association may buy a proportion of your property so you can stay in your home.

9. Know what your property is really worth from an independent survey rather than anyone trying to buy your property at a discount.

10.You may be able to sell it to an investor who will let you rent the home back. Make sure that you sell to someone reputable, and take independent legal advice and secure an independent property valuation before you agree a price.

Need help with a property problem? Why not call Designs on Property for independent help? You can contact us on 0845 838 1763 or email your question to

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