The need to sell property fast might be a top priority for you – especially if your home is at risk of repossession. Being able to sell property fast means you can release the equity in your home to pay off accumulating expensive debts – the sooner, the better. But the problem many homeowners are facing at the moment is the fact the housing market has ground to a halt.

News reports have confirmed that new mortgage lending is falling fast. The amount of new mortgages approved has been falling since the latter part of 2007 according to the Bank of England. For homeowners desperate to sell property fast, this means there are fewer buyers on the market, making it more likely that their property will take longer to shift.

Back in November 2007, the evidence was mounting that the UK was facing a slowdown in the housing market. Before it was relatively simple to sell property fast depending on the area you lived – there were usually plenty of buyers clamouring to get onto the property ladder. Now buyers are deterred not only because of the flailing property prices, but because lenders have cracked down on their lending criteria  - making it harder for those with a poor credit history for example, or no deposit to put down, to be granted a mortgage.

And more surveys in 2008 suggest that the future for the housing market is set to continue on its downward spiral. The number of new mortgages for home buying fell for the seventh consecutive month in December 2007 the Bank of England figures reveal.

For homeowners desperate to sell property fast – whether the reason is financial, because of relocation or a change in career, or because of something life changing like emigrating abroad, divorce or redundancy – the news is a double-edged sword. Not only is the housing market and property prices slumping, but there are fewer buyers around to offer a way out. To sell property fast in 2008, the quick house sale market could be the best solution.