With interest rates static at 5%, living costs and fuel prices rocketing increasing numbers of people are struggling to keep pace with mortgage payments, and other debts secured on property.
The Ministry of Justice said 28,658 house repossession orders were made by the courts in England and Wales in the second quarter of 2008. This was up 24% on the same period in 2007 and 4% higher than the first quarter of 2008. Records show that 1.5 million people have current mortgage deals which are about to expire. Once you get more than a couple of months behind with mortgage payments, it can be very difficult to get back on track. In this situation, it can be a better idea to take control yourself and sell your property. If a lender takes possession of your home it becomes theirs to sell. The price they achieve is down to the market and the buyers in the auction room. In addition, the fact that you have been repossessed will damage your credit record for several years.
Selling to a professional property cash buyer means the deal can be completed within 7 days, allowing you to stop repossession. Depending on the level of your debts you could be in a position to pay them off and perhaps have some cash left over to start again. Professional property cash buyers will generally offer around 80% of the perceived market value of a property. This will not therefore work for everyone.
Some professional property cash buyers will also offer a sell and rent back service. The advantage being that you keep living in your home and avoid the need to move out.
The key is to evaluate your options and decide what the best way forward is for you and your circumstances. Bodies such as the Citizens Advice Bureau are often a sensible starting point to get advice.
If you reach the decision that you need to sell your house and need to sell your house quickly then our advice would be to speak to a number of professional property cash buying companies and decide who you would like to deal with as there is a big variance in the market both in approach and also terms available. A big advantage of not selling through an estate agent is speed.
In addition to speed at Molae Properties there are no fees to pay at any stage of the process, the offers are guaranteed and an exchange and completion can happen in a few days. A recent testimonial comments:
“I was under threat of repossession. To stop the bailiffs I needed to exchange with a completion date of seven days later. Molae Properties visited the flat, made an offer and we exchanged within 7 days. What particularly suited me was the facility to continue living in my flat as a tenant. The reason I went with Molae Properties was because I felt I could trust Julien at our first meeting and I am pleased to say that I was right” A.Mcnally, Harlesden, London
Molae Properties are specialists in property cash buying. Our clients situations range from those simply looking for a quick house sale to those who are, relocating or facing repossession. We are able to buy your house quickly. Plus we can offer flexible terms to suit your needs such as delayed completion dates.
Visit our testimonials page and the FAQ’s to see how our service works in practice.
Alternatively please call freephone number 0800 634 5892 to discuss, without obligation.
