Archive for April, 2011

Repossession Rate is Likely to Go Down

Thursday, April 28th, 2011

According to a recent article published by The Belfast Telegraph cash for homes sales touched a record number in January. The report says “A record 40% of homes that changed hands across the UK in January were bought by cash buyers.” This is a good sign; troubled homeowners at least have realised that selling house to those who do not need mortgage is easier than selling house on the open market. Sooner others understand this fact the better.

It does not mean that you cannot sell house quickly on the open market; of course you can. But you will need a luck factor – you never know how long it will take to get in touch with the right buyer who would agree to buy your house and would qualify for mortgage as well. But if you work with cash buyers, rest assured that you would be able to sell the house in 7 to 10 days.

According to the report 40% of the properties sold in January were sold to the cash buyers. It means financially distressed homeowners have started recognising the benefits of working with cash buyers. People have realised how cash buyers can help to stop repossession in UK. The rate of repossession will definitely go down in near future.

There are two types of buyers who offer cash transaction – investors who purchase properties for the sake of investment and senior citizens who have cleared their mortgage and are now planning to move a small house simply for the sake of downsizing. If your house is a small one you can target the second group also. And you can contact professional property buyers any time.

To make things faster, you should look for local buyers. If you are trying to stop property repossession in Swindon look for active property buyers in Swindon area. They can offer you a quicker and smoother service.

If more people decide to work with cash buyers, like you, repossession rate would go down certainly.

Stop Property Repossession for Long Term Benefits

Thursday, April 7th, 2011

Property repossession is not a nice event; no matter whether you are facing repossession due to your own unplanned spending habit or due to a national problem, repossession will always take a toll on you.

There are instant and long term effects of property repossession that you should be aware of. Here is a list.

Immediate effects of Property Repossession:

  • Your lender will repossess the house evicting you with a court order
  • Your credit will be damaged
  • You have to find a new home
  • Difficulty getting mortgage or finding a rented home after repossession
  • You have to go through all the hassles of relocation

Long term effects of Property Repossession:

  • History of repossession will stay on credit record for long
  • If financial conditions stable, the old history of repossession would stop you from getting loans

However, you can avoid all these problems if you avoid property repossession. If you go out and search for ways to stop property repossession you may find several ways; selling house fast is the easiest among all.

There are cash buyers in UK; they purchase properties of any type and condition for quick cash. If you are in hurry and cannot wait for your estate agent to find a buyer for your home, you should look for cash home buyers.

It is always good to work with the property buyers in your area. If you are in Chester, look for local buyers to stop property repossession in Chester quickly. By doing so you can save yourself from a lot of problems.