Managing Your Loan Repayments Following Property Repossession in the West Midlands

Eleven Central also provides guidance about loan repayments after repossession has already taken place. In this event, your repossessed property is usually sold off by your lender to pay off any secured lending made against it. Count on us for expert advice in the West Midlands and London.

Clearing Your Account

If your home is repossessed by your lender, it is important to be aware that the actual sale price of your home may not be large enough to cover your loan. You will also be required to continue to make payments to your mortgage account until the whole debt owed is cleared, even after the sale of the property. This debt includes clearing the account to zero balance including interest and penalties.

When Will I Receive My Funds?

Your mortgage provider will use the money to repay what you owe, which includes:

When Will I Receive My Funds?

Outstanding Balance to Your Lender
Maintenance
Any Other Costs

After all the above has been paid and there are no outstanding debts, you will receive your money.