After repossession

This section looks at your housing options after your lender has repossessed your home. It also explains what happens when your lender sells your home and what you can do if you are left with an outstanding debt after the sale.

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What happens to the house after the repossession?

Once your lender has repossessed your home and you have moved out, your lender will sell your property to recover their money. You will still have responsibilities for the home until it is sold.

Paying off mortgage shortfall debt

If the sale of your home doesn't cover the debt, you will owe the outstanding amount to your lender.This is known as a "mortgage shortfall". They might go to court to get the money back, so check your rights.

Finding a home after repossession

After repossession, what are your housing options in Scotland? Your credit history is worth checking and you might want to speak to your council to see if they can house you.

Last updated: 29 December 2014

Housing laws differ between Scotland and England.

This content applies to Scotland only.

Get advice if you're in England