Selling Your Home to Avoid Repossession

If you’re struggling with mortgage payments, selling your home before repossession can give you more control and protect your future. Here’s what you need to know:

Don’t Hand Back Your Keys

• Voluntary repossession means giving your home back to the lender.

• You’ll lose your home and may still owe money if it sells for less than the mortgage balance.

• It can affect your credit rating, benefits, and housing options.

Selling Yourself Puts You in Control

• You decide the timing and can plan your move.

• It could help you clear debts and even leave money for rent or a deposit.

• But consider: selling costs, property condition, market delays, and possible shortfall if the sale doesn’t cover what you owe.

Avoid Quick Sale Companies

• Many offer less than your home is worth.

• For a quick, simple and transparent sale, contact Property Auction Agent for a free valuation before selling.

Negative Equity and Lender Support

• If your home is worth less than your mortgage, you’ll need your lender’s permission to sell.

• Some lenders offer assisted voluntary sales—help with fees, paused court action, or even rental support.

Takeaway: Get financial advice before making decisions. Citizens Advice and your lender can guide you through your options. And if you’re considering selling, Property Auction Agent can provide a fast, professional route to market.