Buying a property from a mortgagee in possession or a receiver
As mortgage interest rates remain high, more homeowners are struggling financially. While a repossession is a last resort for lenders, the number of them is increasing and the trend looks likely to continue. However, it is an ill wind which blows nobody any good. If your own finances are sound, buying a repossessed property could be an opportunity, as typically, these properties are significantly cheaper to buy than ones sold by their owners.
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