Archive for the ‘Sell And Rent Back’ Category

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Sell And Rent Back Figures Overlooked, Say Tories

Wednesday, January 6th, 2010

According to Conservative estimations, the true number of repossessions in 2009 was double that which the Government reported. Figures from the Council of Mortgage Lenders revealed there were 48,000 repossessions in 2009 but if the Tories are correct this number should be closer to 100,000.

The reason why the Opposition thinks there were twice as many is because the Govt. haven’t included sell and rent back situations. This is when a property owner sells up and rents back their home from the buyer because they can no longer afford mortgage repayments. A lot of people in the UK avoid repossession and keep their home this way, so the Tories may be on to something.

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Housing Proposals Could Leave Tenants Worse Off

Wednesday, December 30th, 2009

New Scottish Government plans for housing are to deny thousands of families the chance to buy their council house as Ministers want to scrap the right to buy that tenants currently have. The proposal has had mixed reviews with the Tory’s describing it as ‘political vandalism’ while charities welcomed the change in legislation as part of a new Housing Bill.

The right to buy was introduced by Margaret Thatcher and has no doubt helped hundreds of thousands of Scottish residents get on the housing ladder. Under the current legislation, tenants who have been in a council owned property for more than 5 years are able to buy it at a reduced price.

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Council House Tenants Sub-Let And Cash In

Wednesday, December 23rd, 2009

Affordable housing is at a premium in the UK, with the population at it’s highest point since records began and pressure from environmentalists to leave green spaces alone. A tough situation for those thousands of young families and individuals looking for a roof over their head.

But there are thousands more people making money, illegally, from this situation, as tenants of council houses sub-let their property for a higher price, often while claiming benefits. Thankfully, the law is closing in on these criminals and many have already been prosecuted as this article from the London Evening Standard describes, read more…

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Sale And Rent Back, House Swapping And Auctions

Wednesday, December 16th, 2009

The housing market in the UK is still a sorry state of affairs, despite the fact that mortgage lenders are now starting to offer more competitive packages. The truth remains that until the market has been fully brought back to life, homeowners will no doubt look at all other means of getting a quick house sale.

There are a few options available, including the relatively new idea of house swapping where you can match your house to a buyers needs and take out the middleman. Another possible route is an auction where you can be guaranteed of a sale but the price you achieve will invariably be less than if you sold yourself. A third option is a sale and rent back scheme, these are aimed at homeowners that are facing repossession or need to free up cash but stay in the area. Remember to always look into all the options when considering a fast house sale and seek impartial advice from the CAB and other trusted sources.

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