Currently, repossession properties make up 20% of all homes sold at auction. This figure is constantly rising due to the financial crisis in the UK. Banks and lenders are now moving even more quickly when it comes to repossessed houses and are looking to sell them on their first day listed at auction. What does this mean for potential buyers? low prices. The banks and lenders will be willing to sell low in order to force a quick sale and recoup funds.

Property auctions are the best place to buy repossessed homes, but it’s important to know what you are doing and not end up paying over the odds. Below we have added some quick tips to Repossessed Homes UK so that you can hopefully pick up a bargain repossessed property.

1. Do Research
- Make sure you know the area you are buying in.
- If buying to let then know the rental market.
- If the area has Universities or hospitals nearby then finding tenants will be easier.
- Check the market rate in the area especially on the same street. (more…)

With so many property repossessions occurring in UK, the Government is providing extra funding for free legal advice at courts. The fund which currently stands at £750,000 has been doubled to £1.5 million.

This means that all courts in England now provide free legal advice for people who attend repossession hearings in court. Legal services previously funded the Repossessed Homes desks at court, but this injection of government money has helped double the number of desks in English crown courts. (more…)