Houses For Cash UK Blog

I was speaking to a woman today who told me" I can no longer afford my mortgage payments and so need to sell my house fast"

She had sadly lost her husband a few months ago and could not afford to keep up with her mortgage payments. Aswell as the cost of the mortgage she told me the house had too many sad memories for her and so she just wanted to sell her house fast and move on.

The offer I made her on her house was more than enough to clear the remainder of her mortgage and help her move on. I sent her the offer in the post tonight which she is going to sign and get back to me straight away as she cannot wait to get the ball rolling and start afresh.

I had a call from a gentleman who wanted a quick house sale as his house had not sold through the estate agent. He had just retired and wanted to move over to spain to spend his retirement with his son and grandchildren over there.
"I am ready for the move but cannot go until I have sold this house and I am now tired of waiting"

He accepted our offer and is delighted he now can really start to plan his move and begin to enjoy his retirement.

Homeowners who are struggling to meet rising food and fuel bills or avoid repossession were offered little comfort yesterday, when the Bank of England held interest rates for the third month in a row.
The monetary policy committee's (MPC) announcement that interest rates will remain at 5 per cent led to warnings of tougher times ahead.

A survey by Chelsea Building Society yesterday revealed that more than one in ten Britons have had to dip into their savings to pay their mortgage or rent in the past three months. About 12 per cent of people admitted they had used money set aside to meet accommodation costs, while 15 per used savings to pay utility bills or council tax.

"I am looking for a quick house sale" I was told by a gentleman today. His house had been on the market for 11 months and even though he had reduced the price several times he still was not any nearer to selling his house. He wanted to sell as he wanted to move into a bunaglow due to health problems.

He told me he was tired of waiting for it to sell on the market and now just wanted a quick house sale I made him an offer which he was pleased with as the amount was right and it meant he could finally move into a bungalow he had planned to.

I had a call from a woman this morning who wanted to sell her house fast to avoid repossession.
She was actually due to be repossessed this afternoon and was extremely upset. After speaking with her I told her it was not too late and we could help her. On our advice she attended court at lunch time and with the help of our legal team she was able to get the repossession order put by by 8 weeks.
This delay enables the sale of her property to ourselves to complete. Even on the same day of her eviction it wasnt too late to take action. She rang me this afternoon when she had got back from the court and told me that she thought that she would be out on the street by now. She was overwhelmed with happiness that we had helped her avoid repossession and she could now remain in her home.

It has been reported that mortgage arrears are growing at one of the UK's biggest mortgage lenders, the Bradford & Bingley (B&B).

In a statement to investors ahead of its shareholders' AGM, the bank said some borrowers were finding it harder to repay their loans.
More than half of the bank's home loans have been made to buy-to-let landlords.

"Arrears levels have continued to rise in the first quarter, reflecting increasing payment strain," it added.
The bank had previously revealed that at the end of last December the number of people trying to avoid repossession for arrears of three months or more amounted to 1.85% of its mortgage loans.

I had a call from a vendor today who asked me "Can I sell and rent back my house till I emigrate next year"

He had plans to emigrate to America next year however wanted to deal with the sale of his property now so he could rest assured it was sold and he could definitely move when he wanted to next year. He didnt want to put it on the market as with house prices and sales dropping he did not feel confident in this option even with a year to spare. So he decided that the sell and rent back option would work for him.

He was made an offer on his property which he was more than pleased with. I have sent him out a copy of this offer in the post for him to read and sign and then we shall start the proceedings of buying his house which he can rent back till his move next year.

It has been estimated that around 4,000 estate agents in the UK could be forced to close because of the downturn in housing sales.
The Bank of England, in trying to restore order to the housing market, has told mortgage lenders they will be able to pass on interest-rate cuts to their customers in return for easier and longer loans.
This is just another blow to the confidence in the UK housing market which is already at an all time low. As house prices continue to fall and mortgage lenders tighten their lending criteria vendors looking for a quick house sale are finding this harder to achieve.

The Royal Institution of Chartered Surveyors (Rics) said 78.5 per cent more of its members reported a fall rather than a rise in prices in March. This marked the eighth consecutive monthly drop and made for the gloomiest reading since the survey began in 1978.

I am hearing more than ever from vendors who tell me "I am desperate to sell my house" after having their property on the market for considerable lengths of time and still no sign of a sale.

The British housing market deteriorated in March by the most in at least 30 years, a survey of real estate professionals showed Tuesday, suggesting the property downturn is accelerating as mortgage financing dries up.

A country-wide estate agency has blamed the credit crunch for the closure of two branches in South Wales.

Darlows is shutting its Llanelli and Neath branches and a third is being downsized. Decisions on redundancies are now being considered.

Robin King, who runs the firm said sales of homes had fallen by between 30% and 50% between January and March compared with the same months last year.

It has also been reported that the balance of buyers registering with realtors fell to minus 49, the lowest since March 2003.

Confidence in the UK housing market fell in March to its lowest point in 30 years, according to a closely watched survey of property surveyors.

The Royal Institution of Chartered Surveyors’ (Rics) said that 78.5% more surveyors reported a fall than a rise in house prices in March.

Britain's biggest mortgage lender Halifax said last week that house prices fell in March at their sharpest pace since the recession of the early 1990s as the credit crunch forces banks to toughen up mortgage terms and begins to hurt consumers.

More home owners and especially owners of buy to let properties are now looking for a quick house sale as the housing market continues to take a downwards spiral.