Big increases in mortgages and falling house prices - it’s an equation that adds up to a potential housing disaster. Words such as ‘volatile’ ‘credit crunch’ and ‘housing slump’ are littered across the opinion pieces from industry analysts and financial experts all sharing their predictions for 2008 and beyond. It’s no wonder that the quick house sale market is experiencing an unexpected surge from homeowners eager to avoid the property ‘time bomb’.

With the first run on a major UK bank in more than a century, alongside rising interest rates and an American housing market that sent warning signals across the Atlantic, it’s no wonder that more homeowners struggling to stay afloat are researching the quick house sale market. For some, the quick house sale market offers a viable alternative to house repossession. And for those who simply want to get off the property ladder fast to find more affordable accommodation, the quick house sale market offers a convenient and speedy solution.

Property prices are falling across the UK for the first time since 2004 thanks to the five rises in interest rates. Lenders are making their mortgage products pricier than ever before and as some consumers are hit by the interest rate rise in other areas of their finances, such as credit card debt, the quick house sale market is set to boom. As incomes have not risen to match the inflated prices of home ownership, more homeowners are slipping through the financial cracks. The Council of Mortgage Lenders has estimated 1.4 million homes will be affected in the near future as the property ‘time bomb’ ticks on and time runs out for homeowners reaching the end of their fixed mortgage rates.  

A number of factors are combining to make 2008 look like a difficult year, prompting more homeowners to look into the benefits of the quick house sale market. As well as the credit crunch, high interest rates, widespread consumer debt and fewer buyers, it looks like the previously untouchable top end of the housing market could suffer too as London’s City workers receive smaller bonuses and political parties are supporting limits on immigration reducing the demand for housing. The quick house sale market could be inundated with desperate homeowners in 2008.