Sadly for the previous owners, repossessions can often be picked up at bargain prices through auctions and are featured more and more in auction catalogues across the UK.

We have found that some banks/building societies can be somewhat sheepish about revealing that they are selling repossessed properties so you need to be alert in the auction for clues.

Where possible, when uploading a property into our database we will let you know if it is a repossession (if the auction house has released this information in their catalogue). Auction adverts may reveal that a bank may be the seller of a number of properties, or the auction catalogue may state a phrase such as 'on instruction of a liquidator' or something similar - this should tell you that the property being sold is a repossession. If you are unsure, when you contact the auctioneer, ask them directly if the lot being offered is a repossession.

Read more: Property Auctions - Why use an auction, and what to look out for when buying
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