One of the biggest questions every homeowner and property analyst is mulling over is whether or not we’re facing a property slump across the UK. All the facts and figures certainly point to one as homeowners are:

• Expected to face an increase of 50% in repossessions as more people in debt are unable to stop house repossession
• Experience rising debt due to inflated property prices – many were forced to over borrow to afford their mortgage
• Are enduring increases in interest rates which have impacted on homeowners who don’t have a fixed rate or are coming to an end of a fixed rate term
• Finding fewer potential buyers on the market as a result of growing nervousness over the global credit crunch after witnessing the American housing crisis

A quick house sale is one way to stop house repossession if your back is to the financial wall. Even if you’re already in mortgage arrears as a result of debt, a fast house sale is still achievable using a specialist property buyer who can offer you a cash sale in a matter of days. Newspaper reports have dubbed these times as ‘the dying days of a property boom’ (The Times). It’s no wonder more homeowners are considering a fast house sale to stop house repossession or avoid the risk of negative equity and increased debt.

According to a recent report in The Times, more people may be unable to stop house repossession. New buyer inquiries are steadily but surely declining and surveyors have reported the fastest decline in house prices for the past two years. The interest rate rises mean a slowdown is inevitable. As it becomes harder to find buyers on the open market, houses can end up stagnating – leaving owners with no choice but to find ways to stop house repossession if they can’t afford to continue paying their mortgage. One estate agent said of the current market: “Three or four months ago people wanted to buy no matter what. The situation now is completely different – people are looking for a reason not to buy.”

This spells bad news for those looking for a quick house sale to save them from unmanageable debt. If there is the slightest problem with a property, people will walk away. Specialist property buyers can help in situations however where homeowners fear they are unable to stop house repossession by offering a fast cash sale.  

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