Archive for September, 2010

House repossession – simple ways to avoid it

Thursday, September 23rd, 2010

It’s scary how the mortgage lenders threaten to evict you from your own house and repossess the property. The worst part is, you cannot do anything about it.

That’s not entirely true. If you act fast, you can still take the situation in control. There are a lot of viable alternatives to house repossession. Most home owners are unaware of the fact that there are steps available.

If you have defaulted your mortgage payments, the first thing that you can do is, talk to your lender. Be very honest and open about your problem. It is of utmost importance that you let them know why you missed the mortgage payment in the first place. In case there is a chance that you might miss a couple of payments in future, let the lender know that too. Believe it or not, the truth is, even the lenders see property repossession as a last resort to get back their money. Repossession itself is a very costly procedure.

Alternatively, if you are already half way into the process of property repossession, then the only way out of such a mess is by selling your property and renting it back immediately. That way, you will get quick cash in your hand as well as retain your shelter. With the cash, you can pay off the mortgage lenders and also get rid of all the other personal debts. This is a very effective solution. There are cash buyers available all over England. We are private property buyers with networks stretched to all over England, Wales, Northern Ireland and Scotland.

Please feel free to contact us for any further information on cash buyers and home repossession.

All about home repossession

Monday, September 13th, 2010

The mortgage sector of the United Kingdom is still recovering from the recent global downturn. The easy lines of credit and cheaper mortgage deals are mostly not available today. The interest rates may rise if the inflation keeps mounting and is unlikely to fall in the near future. Many lenders are not passing on the reduction of the recent interest rate to the homeowners.

Although the experts are yet to come to an agreeable conclusion on what will happen in the long term, they however, all acknowledge that the housing market will face exigencies. Put in simple words, UK house repossession will increase in the near future.

In order to fight the increased rate of house possessions, the government of United Kingdom has created a rescue package. According to this package, the county courts offer free legal representation to people fighting against home repossession. The UK Chancellor has kept aside an extra amount of £9 million for the Citizen’s Advice Bureau so that they can support the home owners in crisis.

In such circumstances, the home owners are preparing themselves for a rough ride. The best way out of such a crisis situation is to stay informed about the various aspects of home repossession.

A recent study by Santander found out that the number of sellers who failed to get a buyer for their house has recently doubled. The reason being the number of owners trying to sell is increasing whereas the number of buyers has decreased in recent times. This has kept the home owners wondering how they could sell their house quickly. This is where the cash home buyers come into being. Go for a cash home buyer and take the step to freedom from the trap of never ending botheration of selling your house. Cash buyers in the country can actually help you sell your property quickly.