In this article, we will discuss how to stop commercial property repossessions from a bank if you are the owner of the property.
If you are currently facing mortgage repossession, you have to act immediately.
This article will not cover regaining possession of a commercial property from a tenant.
Table of Contents
Why Commercial Property Repossessions Are On The Rise?
Commercial property repossessions are on the rise because of unaffordable interest rates. We are on the side of the business owners.
The bank can start repossessing any commercial property if they feel the loan-to-value ratio has dropped in THEIR OPINION. You could be the perfect borrower who has always paid their mortgage by direct debit for the last 20 years.
The first step they will take is to commission an “independent valuation,” which will predictably support their findings. Without your permission, they will deduct the valuation fee from your bank account, putting your mortgage account in arrears and start charging you an unauthorised overdraft fee at an astronomical interest rate.
Your commercial property will then be sold in an auction. The result depends on whether they picked a specialist auctioneer or a generic auctioneer, the pricing, and the year’s timing.
Even worse is that you could be pursued for the remaining amount. When you sign a personal guarantee, it means that your home is at risk of being repossessed.
Threatened With a Commercial Property Repossession?
Has your commercial property recently been threatened with repossession? Feeling frustrated or uncertain when faced with a situation like this is completely normal.
However, the good news is that you don’t have to face it alone. Our team at Property Saviour consists of experienced professionals ready to help you navigate this difficult time.
We offer a unique solution to protect you, your business, and your credit file. With our decades of experience, we have the knowledge and expertise to put a stop to your repossession.
We can work closely with you to prevent the repossession of your property and simplify the sale process. Our cash-buying services are completely confidential, ensuring your privacy throughout the entire process.
We work quickly to stop the repossession and assist you in moving forward once the sale is complete.
How We Can Help?
Just like with residential mortgages, commercial mortgage lenders hold the title deeds to the property as security. If there are any arrears, the mortgage lender will take steps to repossess the commercial property.
Why not sell your commercial property? Selling your commercial property couldn’t be easier.
You can sell your commercial property within 10 days. Request a callback to get the ball rolling:
Sell with certainty & speed
Property Saviour Price Promise
- The price we’ll offer is the price that you will receive with no hidden deductions.
- Be careful with ‘cash buyers’ who require a valuation needed for a mortgage or bridging loan.
- These valuations or surveys result in delays and price reductions later on.
- We are cash buyers. There are no surveys.
- We always provide proof of funds with every formal offer issued.
We'll Pay £1,500 Towards Your Legal Fees
- No long exclusivity agreement to sign because we are the buyers.
- You are welcome to use your own solicitor.
- If you don’t have one, we can ask our solicitors for recommendations.
- We share our solicitor’s details and issue a Memorandum of Sale.
Sell With Certainty & Speed
- Our approach is transparent and ethical, which is why sellers trust us.
- 100% Discretion guaranteed.
- If you have another buyer, you can put us in a contracts race to see who completes first.
- Complete in 10 days or at a timescale that works for you. You are in control.