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A recent documentary highlighted the problem of property fraud - where overpriced homes are sold to people who take out sub-prime mortgages they simply can’t afford – to avoid repossession, they need to opt for a quick house sale.
It’s shocking and exploitative – but property fraud is out there. The hunger for homeownership is so high that the price people end up paying is devastating. Panorama highlighted one man who borrowed £500,000 despite a salary of £30,000. The property may have been a swanky apartment in London overlooking the Thames, but a quick house sale could have saved him a lot of stress and heartache.
Victim of Property Fraud – Choose a Quick House Sale
Property fraud involves the seller taking the homebuyer’s cash, then disappearing. But what’s perhaps really surprising about the fraud is the fact that a High Street mortgage lender agreed to a sub-prime mortgage for £300,000, despite his history and current salary. It’s no wonder that so many homeowners have to end up looking for a quick house sale through the quick house sale market. A fast property sale for cash is one way to salvage such a situation. Adding to the problem, another mortgage advisor offered the man a mortgage for £200,000 so he could buy another property.
A Fast House Sale to get out of Debt
But it isn’t just the unsuspecting homeowners that are victims of property fraud. If homeowners don’t opt for a quick house sale and are unable to pay off the debt, the debt gets passed around. Although debt generates billions of pounds for banks, eventually it could bring the economy down. The man who was a victim of property fraud was unable to get a quick house sale on his second flat and couldn’t stop house repossession.
Oversold a mortgage? Opt for a Quick House Sale
Part of the fact so many homeowners struggle with debt and have to opt for a quick house sale through a specialist property rescue company is that they were oversold a mortgage they couldn’t afford. Easy credit is now being stamped on by the government, illustrated by the high interest rates. Banks are now more reluctant to lend to risky customers after the Northern Rock crisis. However there are thousands of homeowners who have fallen victim to the mortgage mayhem that’s left them floundering in debt. The quick house sale market offers these homeowners a fast way out.
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
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