Quick House Sale – How to Salvage your Finances

Is the nation’s current financial crisis and credit crunch impacting on you? A quick house sale is one way of combating debt. Banks are warning of a money-market crisis – the worst in twenty years. Huge refinancing is behind the crisis, leaving banks desperately grabbing for funds. The rise in interest rates has hit some serious pressure points. The credit crunch in the UK is like a tsunami effect from the mortgage crisis in America. And the quick house sale market is now responding to urgent requests from struggling homeowners. Higher Mortgage Rates Fuel Quick House Sale Market The crisis has prompted some critics to be outspoken about the years of easy credit and culture of debt that has overtaken Britain. Those who are in debt are facing the risks of repossession and a quick house sale is a one-step solution to stopping repossession. A large number of leading mortgage providers is raising their rates, and the Bank of England announced that mortgage rates have soared to their highest level in nine years. It’s no wonder then that those already in financial difficulties are opting for a quick house sale. Affordability Stretched too Thinly As oil prices keep rising and utility bills rise, home ownership is increasingly expensive whilst average wages are not keeping up with property prices. The result is over-borrowing and debt. A misfortune in circumstance – whether it is a leaked pipe and plumbing crisis, a costly event like a wedding or something bigger such as a relationship breakdown – can be enough of a financial overload to force some homeowners into the quick house sale market. The ‘End of Easy Money’ – Time for a Quick House Sale In the Daily Telegraph, the Chancellor Alistair Darling has announced the end of the ‘era of easy money’ and has asked banks to return to ‘good old fashioned banking’. As it becomes more expensive to borrow money and be in debt, the only way out for some is a quick house sale before the repossession men are knocking on the door. As consumer debt reaches record levels, it could become increasingly harder for those with bad credit to take out loans and mortgages. If you are facing eviction or repossession, it is not advised to allow your home to go to auction – it will leave you with a poor credit rating that could impact on future attempts to get a mortgage. A quick house sale is one way of reducing your poor credit rating. Feeling the Crunch? Opt for a Quick House Sale After the credit boom of the last decade, homeowners are now feeling the crunch – and the quick house sale market is a way out for many who have taken on more debt then they can chew. The credit crisis has already forced mortgage rates up for millions of homeowners. Mr Darling told the Telegraph: “Institutions have in some cases been prepared to lend to people without checking if they were ever going to repay it. It doesn't do any good for anybody, particularly the person in debt but also the lender, to be getting into a situation where you have bad debts.” If you have bad debts, the quick house sale market could be the financial answer you need. njoy.co.uk is a dedicated website that can help get you the best price for your property from committed cash buyers in your area. We aim to have you a cash offer in principal for your house within 24hrs of you registering your house on njoy.co.uk. Many of our registered investors can offer you a 'sell and rent back' option, where they will buy your house for an agreed price, and allow you to stay in your property as a tenant. This may enable you to pay off all your debts in one easy stroke by releasing the equity tied up in your home. If you wish to discuss the process then we would be delighted to talk to you at your convenience, our customer service team can always be contacted either by telephone 0845 337 0038 or alternatively you can email your query to: info@njoy.co.uk

 

< Prev		Next >