Falling behind on your mortgage payments can be worrying and you might be at a loss as to what you can do. If you’ve exhausted all of the options for paying off the debt and the possibility of your home becoming repossessed is rapidly reaching reality, selling your property might be the best option. This alternative will provide you with a lump sum which you can use to pay off the debt (and possibly other outstanding loans) and start again with a clean slate.

If this is the route you’ve decided to take, there are a few options to consider:

[do action=”accordian” accordiantitle=”Hand back the keys to your mortgage lender” accordianexcerpt=””]Whilst this can be done, it’s not recommended as you will still be responsible for the mortgage, tax, insurance and other costs until they sell the property. Not only this, they are likely to sell it for a lot less than it’s worth so it may not cover all of your debt repayments, still leaving you in a worrying situation without a place to live.[/do]

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By opting for the open market you are more likely to get you the best price, but it can take months; not ideal if you’re selling to stop repossession. There is no guarantee when (and if) your house will sell, all the while you are still responsible for the mortgage fees and other house related costs.

Also, make sure you’re aware of all the fees involved in selling your home (solicitor’s fees, survey costs, estate agency commissions). These will eat into amount you receive and may mean you don’t get enough from the sale to pay off your debt.


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  • We pay all the fees, so you will receive 100% of what we offer. This will allow you to make sure that you can pay off your debts, avoiding any disappointment when the sale goes through; something you can’t control with the other options. What’s more, we offer an initial no obligation offer so you can see if it is right before committing.
  • We can buy your home in as little as 7 days so you can get debt free quicker and lift the weight off your shoulders. We will buy your house at whatever time scale suits you, making sure you can pay off your debts in time.
  • Whilst you may be eager to get rid of the debt as soon as possible, rushing into selling your home without planning for what happens afterwards could leave you in a situation which is just as stressful. If you sell to a property buyer like us, we will allow you to stay in the house for a number of weeks so you can get back on your feet, pressure free.


If you’re still feeling confused and worried about your situation and what’s best for you, please give us a call on 0800 773 4922 or email us and we will be happy to talk to you. Alternatively, if you think selling to us could be right for you, complete our no obligation form to receive an offer in just 1 hour.

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Vivo Property Buyers is the trading name for Potrell London Ltd, The Ashridge Business Centre 121 High Street, Berkhamsted, Hertfordshire, HP4 2DJ.

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