Are you right to be worried by the commentators who say that house prices are falling and people could be in serious financial trouble? If you’ve overstretched yourself financially, it’s probably a good idea to sit down and take a good look at the commitments you have and whether you could continue to meet them in a tougher climate. There are many people who could be in trouble if the economy slows down:

• Property investors – if you bought a number of buy-to-let properties as an investment, you may find that you have trouble keeping up with your mortgage payments. Your properties may all be let out at the moment, but could you afford the payments if one of your tenants leaves or if you have to carry out essential maintenance? The Bank of England may be considering reducing interest rates, but you can’t guarantee that all your mortgage lenders will pass those lower rates onto you. You may need to take advantage of the quick house sale market so that you can get rid of one or two properties, giving you the financial cushion you need.

• Large mortgage owners – mortgage lenders have, perhaps unwisely, lent greater multiples of salary than ever before. This means that some people have really stretched their finances to buy a property and could suffer from interest rate rises and lower property prices. Unexpected expenses on your property may mean borrowing more money at a time when you really can’t afford to do so. If you think it might be best to sell, don’t waste your money making several more months’ worth of payments to your lender; use the quick house sale market to release your cash quickly.

• Unexpected circumstances – you may have thought that you had your finances covered, and then something happens unexpectedly that ruins your financial future. You or your partner may be made redundant and find it difficult to find more work; you may go through a divorce, or be bereaved, or suffer from ill-health that prevents you from working. Most people will suffer financially in these circumstances and you may decide that the easiest way to cope is to sell your house and find something more affordable or more practical. The quick house sale market can help you to do this as soon as possible and with the least possible hassle so that you can concentrate on your other issues.