Archive for the ‘House repossession’ Category

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.

Property prices ‘to keep rising’

Wednesday, November 4th, 2009

Managing director of the firm Russell Jervis said that London property in particular is set to rise in value over the coming 12 months.

Indeed, he indicated that demand against available homes is currently at a ratio of one to ten in some areas of England’s capital city.

There are unlikely to be any dips in house prices in the foreseeable future, Mr Jervis added, although he suggested that it is always hard to tell what will happen during December.

“It is unlikely based on current supply and demand figures that we will see any further drop in October’s figures or for November,” the expert explained.

His comments came after Nationwide Building Society revealed that property prices went up 0.4 per cent in October – this followed a 0.9 per cent rise in value during the previous month.

Reluctant landlords begin to disappear as house prices rise

Saturday, October 31st, 2009

The number of home owners who are being forced to become reluctant landlords has dropped for the third consecutive quarter, according to the Association of Residential Lettings Agents (Arla).

Over the past two years falling house prices and a shortage of mortgages caused many home owners to become “reluctant” or “accidental” landlords, as they could not sell their home.

But the upturn in the housing market has changed that – Nationwide said that house prices have risen for the sixth consecutive month.

Arla’s research shows that 60pc of its members’ offices reported property being rented out rather than sold during the third quarter of this year. This number has dropped from 80pc in the second quarter and 95pc in the first three months of the year.

It said that the figures suggested that fewer home owners were struggling to sell their property and being forced to rent it out – supporting industry-wide speculation that the housing market downturn is coming to an end.

Ian Potter, operations manager of Arla, said: “The fact that the number of reluctant landlords has dropped once again, and supported by the rise in demand for buy-to-let, suggests that movement is beginning to occur across the market. What remains key is that all landlords – reluctant or otherwise – are fully aware of their obligations to their tenants.”

Forty-eight per cent of members in “prime” central London areas reported rental property coming onto the market because it could not be sold, compared with 73pc last quarter.

Hello users!

Friday, October 16th, 2009

That’s my new Post.