Houses For Cash UK Blog

Most people think that Houses for Cash UK are only for people who are struggling with their mortgage payments or who are in debt, however this is just a small percentage of people who contact us.
I get enquiries from people who are relocating, emigrating and especially from people who are struggling to sell their house on the market.
First call this morning was from a women who had already found and put an offer on her new home, however the house could not be taken off the market until she had sold her current house.Although she had alot of viewings she had no offers on her house.
She told me " I am desperate to sell my house"
as she did not want to lose out on the purchase of her new home.
She had seen our website and gave us a call to see if we could help her. We certainly could help her achieve the fast house sale she was looking for. After being explained how the process works she told me she cant believe how quickly things can now progress and cannot believe she didnt contact us sooner.

Britian's financial regulators recently warned that more than 1 million people are at risk of losing their home over the next 18 months.
I understand that being threatened with repossession can be a daunting experience however it is important not to panic.
If you can you should address the situation early on and it is advised that you speak to your lender and try to come to an arrangement to clear the arrears.
Most mortgage lenders would rather come to an agreement than to progress with a lengthy and costly repossession.
However even when things have progressed you still have the option of selling your house to avoid repossession and save your credit rating.
Recently I was able to help a man who was due in court the next week for an eviction date. With the help of our legal team we were able to postpone the repossession order enabling us the time to complete on the property purchase before it was repossessed. I spoke with the man today and he told me he feels he can now make plans to start over without all the financial pressure.

One effect of the credit crunch is greater deposits being requested by mortgage lenders, the up-front costs of buying a home.
First time buyers are finding it even harder to get a foothold on the housing ladder.
With the drop in the market due to less potential buyers houses for sale are staying on the market for longer and a Quick house sale is becoming harder to achieve.

I am very interested in your offer as long as you can offer me a quick house sale I was told today by a weary home owner. She had had her house on the market for 8 months and had just found out the possible buyer had pulled out.
She thought that she would be settled in her new home well before christmas, However just over a month after christmas she had not only moved but still had no buyer for her current house.
By now she had had more than enough of waiting and just wanted a quick house sale

She has accepted our offer as she was happy with the amount we could offer her and we could offer her the quick service she required.

The first person I spoke to today told me " I need to sell my house fast "
They were struggling with their mortgage payments and wanted to downsize. Instead of facing a future eviction they wanted to sell their house and start over again with a mortgage which was within their means.The didnt want to chance putting their house up for sale with an estate agent as it might not achieve a sale for a while and so instead they contacted us.
If a home is repossessed the owner almost certainly wont receive the full value of their house. It is reported that repossessed properties are undersold at auction by between 20 - 30%
If a house isnt sold for a amount sufficient to pay off the remaining mortgage balance and fees you may still be left with a substantial debt which your lender will expect to be paid off.
This means home owners are not only left without a home but also an additional debt still to be paid off.
If you are thinking how can I " sell my house fast" then give me call on our free phone number 08000 821 081 to see if we can offer you what you need.

The coucil of mortgage lenders said UK home repossessions last year hit their highest level since 1999 and are likely to increase.
More than 27,000 homes were repossessed in 2007 and it is forecast to rise to 45,000 in 2008.

With talk that the trend of repossessions rising significantly financial pressure on home owners is increasing and more people are desperately trying to avoid repossession
The number of mortgages 3 months or more in arrears has risen to 129,800 and those in more serious 6 months category has reached 56,800.

If you are struggling with the cost of your mortgage then give me a call on 08000 821 081 to see if we can offer you an option to http://www.housesforcashuk.co.uk/

The number of people finding it harder to sell their house on the market is on the rise. New house purchases are set to decrease as people adopt a more conservative approach to housing.
In uncertain times more people are looking for another option to sell their house apart from placing it on the market.

I took so many calls from people last week saying " I'm not in debt, I just need a quick house sale or I need to sell my house fast as it has been on the market for months with no interest.

What a lot of people do not realise is that I speak to people who are looking for a quick house sale who are looking to sell for all kinds of reasons - relocation, broken chain, separation, emigration to name a few.
I spoke to a women today who is going through a divorce and didnt want the hassle of putting her house on the market. She just wanted a quick house sale so she could move on with her life. After taking her details she has been made an offer on her house from ourselves which she is going to go away and discuss with her ex husband tonight.

Have you been struggling to sell your house?

Has it been on the market on the market for a while now with only a few viewings?

This is something I am hearing more and more from calls I take from home owners who ask " can you sell my house fast?"

I took a call yesterday from one woman who told me her house was in excellent condition, in a popular location and over the past few months she had dropped her asking price 3 times, yet still no interest.She said " I wanted to sell my house fast as my parents are unwell and I need to move closer to them"

According to the latest house price poll by CEBR the UK housing market suffered its 5th negative month in Jan.Prices in London are starting to show signs of cooling for the first time in a decade.
Even with a significant fall in house prices Estate agents have reported a drop off in new property applicants, reporting this has dropped by a third.

With property staying on the market for longer and house prices continuing to fall home owners are looking at other ways at selling their property as the housing market still shows no significant improvement.

With the number of homes being repossessed rapidly increasing it is important to priortise mortgage payments however do not take on further credit to deal with payments.

Keeping in contact with your mortgage lender is important to see if you can come to some sort of agreement.
The best lenders will do what they can to help people stay in their home through temporary difficulities.
Firms must deal fairly with a customer in arrears. They must have a procedure to make reasonable efforts to reach an agreement over a method of repaying the shortfall with the aim of avoiding repossession.

If you are unhappy with the way your lender deals with your case you can complain. Find out about your lenders complaint procedure.
If this doesnt work you can complain to the Financial Ombudsman Service 0845 080 1800

Another option to avoid repossession is to sell and rent back
where you can remain in your home and save your credit rating. This can be done on a short or long term basis and also with a further option to but back at a later stage.

We offer a sell and rent back option that provides property owners who have not been able to keep up with their mortgage payments the chance of not having to leave their home.The sell and rent back service we provide is an option providing a flexible tenancy tailored to the individuals needs We offer them an option to rent for as long as they need - months, years, decades, the option is theirs.
Unfortunately, a number of rogue providers have been buying the property far below market value and only offering six month assured shorthold tenancies, hence providing little security of tenure for tenants.

The National Associtation of Sale and Rent Back (NASARB) are the only market-wide national trade body.They are now assembling a code of practice which will protect consumers and provide them with all the information they need to make an informed decision.The code of practice will take into account the Financial Services Authority principles of Treating Customers Fairly and will present providers a benchmark for good practice while offering consumers the necessary protection. A key part of the code will be a comprehensive and independent complaint and redress device allowing consumers to report bad practice. It will also ensure tenants are treated fairly and enter into sell and rent back agreements fully informed

A draft code of practice will be published in April.

"My house has been up for sale for 6 months and the little interest I had has fizzled out" I was told by a woman I spoke to earlier today.
This is a trend I have seen increasing when speaking to home owners.They tell me that they have had their house on the market for months with only a few viewings. I am speaking to more and more people who ask me "can you buy my house?"as they are tired of waiting for interest to increase on the house market front.

This is hardly suprising as property is taking longer than ever to sell at the moment. Homes are staying on the market for 93 days, 15 days longer than last year.

Potential buyers are adopting the wait and see attitude before entering the housing market. Which in turn is leading to home owners not able to sell and move on so they are looking at other options than estate agents to sell their house.

We completed on a property today where the home owner is relocating to London due to a new job.He had had his house on the market for a few months unsuccessfully before contacting us as he had a deadline to meet in regards to his start date for his new job.

It was such a good feeling to know that we had helped the owner to achieve the Quick house sale he was looking for.He starts his new job at the begining of march and now that he has sold his property he can relax and begin to look forward to his new start in London.

New reports claim that the UK housing market continues to experience a slow down and that it is the weakest february for five years.

There are continuing signs of weakness in housing market activity. The number of mortgage approvals in the last three months of 2007 was 35% lower than during the same time a year earlier.
It has now been reported that a third of lenders have now stopped offering 100% mortgage deals meaning first time buyers are now having to wait until they have a sufficient amount to put down as a deposit on a house.

With confidence at a low and less first time buyers entering the housing market people selling their house are finding it harder than ever to achieve a quick house sale and are now looking at other options other than waiting for a buyer through the market.

Repossession orders have increased by 66% during the past 3 years. The total number of homeowners being taken to court by lenders have rose by 55% since 2004.

However the number of court repossession orders is far higher than the actual repossessions due to the fact borrower agrees to pay or an agreement is made with the lender so that the order is not enforced. Most mortgage lenders would rather work out a deal with the borrower to avoid repossession as it is a timely and costly process.

This is why it is important for homeowners who are struggling to meet mortgage payments to be honest and keep in contact with their mortgage lenders to see if a beneficial agreement can be made.

When speaking to people who have their home on the market there seems a increase in the time homes are on on the market for and a quick house sale through an estate agent seems harder to achieve.

There are now less options and good deals for people looking for a mortgage at the moment.Nationwide Building Society has decreased the maximum loan to value ratio people need to qualify for its best deals from 90% of a property value to 75%. This means property buyers require 25% of a property value deposit to achieve the best rate.

This is another effect of the credit crunch which is not good news for first time buyers and people looking for a quick house sale. Aswell as a weaking confidence in entering the housing market, first time buyers now have less mortgage offers available to them and so are waiting and saving for adequate deposits on future property purchases.

" I need to sell my house fast " I was told by a woman I spoke to this morning.

She had put her house on the market 10 months ago and had moved out and in with her boyfriend. " Our plan was to move in together, and I chose to move into my boyfriend house as his is closer to my work and it's a bigger house. Instead of this being a new start for us it has proved to be a huge strain as I am still paying the mortgage on it and I have to keep returning to it to check is ok as it is empty"

" I really thought I would sell my house fast " she told me as her house was in excellent condition and in a popular area.
It hadn't proved that way and so she gave us a call to see what we could do for her. She is now very excited about what we can offer her and has found a solution to her housing issue.

I have been speaking with a couple who want to sell and rent back their house. They had always kept up to date with their mortgage payments,however the husband was made redundant with little notice. Whilst he has been searching for another job they had built up an amount on their credit cards that they were now struggling to pay alongside the mortgage.
They wanted to avoid repossession in the future and sell and rent back so they could pay off their credit cards and release some equity in the house.

We have made them an offer which enables them to do this and reduces their monthly outgoings which they have said has relieved alot of pressure and helped them to feel more secure about their future.