Quick Sales and Repossessions
Quick Sales and Repossessions
Quick Sales
A quick house sale is needed by many homeowners throughout the UK for a variety of reasons. For example, the sudden onset of ill health, unemployment or divorce can all play a part in why someone requires a quick house sale and due to the fact that the property market is in similar turmoil to 15 years ago, quick house sale schemes are seen as the ideal solution to financial problems.
Quick House Sale - Releasing Equity
The current property price crash has seen the housing market turn the clock back 15 years according to the experts and research carried out by the Council of Mortgage Lenders (CML) showed that lending figures declined dramatically in February and suggested that this was because the market had taken a step back to the times when it was extremely difficult to get a deal. As such, many who need to sell their homes will see a quick house sale scheme as the ideal solution. These types of proposal are cash deals which can be completed within a timeframe to suit the homeowner and can often be a financial lifeline when someone needs to release the equity from their home but cannot sell their home on the conventional market.
Quick House Sale - What The Future Holds
With lending provisions being severely restricted due to the current credit crunch, the property market has been hit hard. Repossessions are expected to soar in 2009 and many will need to release equity from their homes in order to stave off this threat. In this regard, quick house sale schemes are often considered to be a good solution when time is of the essence. Andrew Montlake, a financial expert, states, "Increasingly, we're seeing lenders look longer and harder at borrowers who only a year ago would have been given a loan at the drop of a hat. It's like the clocks have been turned back 15 years. As it becomes harder for people to take out mortgages, so the number of buyers dwindles which, inevitably, will have a knock on effect on property prices."
For more information on quick sales, or to arrange your own deal contact our specialists on 0800 756 6250 today
Repossessions
Repossession in the UK is now at a record level!
If you get repossessed, your name will be added to the Possessions Register and all the major credit agencies will be notified. As a result, your credit rating will be adversely affected. Few mortgage lenders would want to lend to anyone who has been repossessed so you may never be qualified for another loan or mortgage again. You and your family will have to move out and find other accommodation, losing the familiarity and security of the home you have been living in. With another rate rise looming, it is in your best interest to do whatever is necessary to stop repossession before it becomes too late.
This is the basic court process:
- Summons for possession - the first stage of the process. A date and time is given for the hearing.
- The hearing - there are various possible outcomes but the most usual one is the court issuing a possession order, which is usually up to two months.
- Bailiffs warrant - This is the stage at which you could be forcibly removed from your home by the court bailiff after a 14-day notice. At this point, it can be stopped only if you pay your arrears immediately, and in some cases, the whole mortgage loan in full.
But it doesn't have to be this way! The good news is that we can help you stop repossession at any time. If you agree to sell your property to one of our cash buyers, you can obtain a stay of repossession from the court. If necessary, your cash buyer can accompany you to attend the court hearing and produce evidence that the sale of your property has already been agreed. The sale can then be completed within 28 days. Even if you are being evicted on the day, we can still stop it. This is regardless of whether your property has equity in it or not.
Don't let it get to that stage! We can help you stop repossession now!