A fast cash sale can sometimes let you sell and repay your lender before they take possession, which may leave you with more control and a better outcome than a repossession sale. Speak to your lender and a free debt adviser first, then contact us as early as possible so there is time to complete.
Get free advice first
Your lender must consider alternatives before taking possession. Free, independent help is available from MoneyHelper, Citizens Advice, StepChange and Shelter. Selling may not be your only option, and an adviser can help you check.
How a cash sale may help
- Because we use our own funds, the legal process can move as fast as the solicitors can work.
- Selling yourself, rather than the lender selling, keeps you involved in the price and timing.
- The sale proceeds repay your mortgage and arrears at completion.
- If the sale price will not clear your mortgage, we will tell you plainly so you can talk to your lender.
Tell your lender
Let your lender know you have an offer and a timetable for completion. Lenders may agree to pause action when there is a realistic sale in progress, but this is their decision and cannot be guaranteed.