Save Money, Time And Stress Selling Your Property
Just last week, the Council of Mortgage Lenders announced that mortgage borrowing
had fallen to its lowest April level in more than a decade and, in the first four months of the year, was down a total of 6% when compared to the corresponding period of 2009. Furthermore, emergency measures such as the Special Liquidity Scheme, which was introduced at the height of the financial crisis to bolster the housing market, is set to be withdrawn at the beginning of 2011 leaving a 400 billion deficit in the amount of mortgage finance available for homebuyers. Whilst interest rates remain so low, investors are looking for alternatives to traditional saving schemes for their money, and with a new government yet to reveal any policies in relation to the base lending rate, a new crash in house prices seems imminent.
Many people will be alarmed at this prospect, for not only does it damage the long term value of their properties, but many households are still living in a negative equity situation as a result of the last crash in 2008, and will find themselves owing far more to their mortgage lenders than their property is worth. Should the Government choose to raise interest rates to attract more funds for mortgage finance, the situation will become desperate for many, as the cost of repaying their finance agreements increases.
However, there is a ray of sunlight beaming through the dark clouds gathering for the UK housing market in the form of guaranteed home sale schemes. These schemes are organised by dynamic property companies more concerned with long term house price movements rather than what may happen in the short term. Their guaranteed home sale schemes are particularly suitable for people who find themselves trapped in negative equity for, in certain situations, their offer to buy will be based above current market value, allowing you to exchange contracts immediately, avoid the potential increase in mortgage repayments and escape from the negative equity trap. This is an ideal scenario too for anybody who finds themselves in any of the following situations:-
* Partners going through a divorce who wish to sell a house with little or no equity in it.
* Families looking to emigrate who are tied to their house at a time when it is difficult to sell.
* Homeowners already struggling with secured finance repayments, who need a quick resolution.
Guaranteed home sale schemes are becoming the attractive alternative to traditional methods of selling a property and, as they have no selling commissions or fees attached, are a cheaper, more efficient procedure than you may be accustomed to. In these uncertain times, vendors getting involved in a guaranteed home sale scheme now will save money, time and stress selling their property.
by: Oliver Darraugh
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