There are numerous repossession hotspots across the UK and these areas are named due to the high rate of repossessions in those areas. One of the areas is South Yorkshire and residents are being offered a series of financial advice sessions with the hope that they will help them to get on top of the debts and so avoid repossession. The sessions will take place in Sheffield, Rotherham, and Doncaster and are free of charge to take part in.

Debt advice is essential at anytime but after the Christmas spending, it is thought that individuals will be faced with even more debt after putting the festivities on their credit cards and gifts on their store cards. This may see an increase in those struggling to meet their mortgage repayments.

If you have fallen into mortgage arrears and repossession cannot be avoided you may wish to look into the option of being able to sell property and rent back with an online company. Usually when selling your home this way you are offered a buy and rent back solution by the company and you may be able to pay affordable monthly rent to remain in the property. You can apply online and know within 24 hours if you are able to sell this way and how much money you may be able to sell for. A quick sale may then go ahead in just a matter of weeks.