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Sell your house in London quickly

Sell Your Property Today

We buy properties in London and within the M25


Quick House Sale Guide

Selling your house can be very stressful – the process can take a long time, and there is always the risk of getting stuck in a chain, meaning that you are dependant on your buyer selling their own house before they can complete the purchase of yours.  There is also the risk of a chain breaking down at the last minute because their own property sale has fallen through, which means you have to start all over again.

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House repossessions rise again

House repossessions rose in the first half of the year, by 30% on the same period in 2006, indicating that some homeowners are struggling with the five recent interest rate rises.

The figures are from the Council of Mortgage Lenders, the industry body, which laid the blame on two factors:

An increase in sub-prime mortgage lending, where the higher risks from lending to people with poor credit histories means those arrears more often lead to repossessions.

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Tips on dealing with debt

How you deal with your debt problems depends a lot on both the size of the debt, and the extent to which the problem has been allowed to build up. For smaller debts, making a few cutbacks may be enough, but more serious debt problems require more drastic action.

Do the maths

To start to deal with the problem, you will first need to sit down and work out exactly how much you owe. Not facing up to the problem means that you will start getting County Court Judgements and worse. As a rule of thumb, if your debt repayments take up more than a fifth of your budget, then you are in the danger zone.

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Quick house sales hide the true extent of repossessions

Repossession figures do not give a true picture of the extent of the national debt problems, as many homeowners with debt problems are opting for fast house sales in order to avoid repossession.

This is the verdict of litigation specialists Moore Blatch. They say that, while the numbers of homes that are repossessed often hits the news, this fails to account for the hidden majority that are sold before the repossession process reaches its conclusion.

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Why are debt conscious homeowners facing repossession?

With the UK increasingly faced with a mountain of debt, last month the Bank of England announced that the country’s consumer debt had reached a massive £1trillion many are inclined to blame people not managing their money properly, or being shopaholics.

In addition, some point the finger at householders who have overstretched themselves to get a mortgage the Council of Mortgage Lenders said banks will lend an extraordinary £360billion in mortgages before the end of 2007.

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Legal aid changes could increase risk of repossessions

Proposed changes to the legal aid system may mean that solicitors will be reluctant to take on cases for clients who are threatened by repossession.

Greenwich Housing Rights, a charity which provides free legal advice for people with housing problems, has expressed concern that new government legislation will mean that solicitors will be reluctant to take on such cases in future.

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Is sell and rent back the right option for you?

If you find yourself in severe financial troubles, the only solution to the problems may well be to sell your assets. For most people, the main asset of any significant value will be a house or flat.

When this property is your family home, this can be a very difficult decision to have to make. The thought of having to give up your biggest asset is bad enough, but when that asset is your home as well this makes the decision even more difficult.

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Selling inherited property

If you are selling inherited property, there are a number of decisions to be made.  You may wish to live in the property yourself, rent it out or sell it. There may be taxes to be paid on the property you inherit, or you may have jointly inherited the house or flat with others.

It is important to get organised here, and ensure that any outstanding debts or taxes or paid up. In addition, it is important to decide what you want to do with the property.

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How to Stop Repossession of Your Property Fast

According to the BBC only 4580 homes were repossessed by mortgage lenders in 2019.  This represents the lowest number of repossessions since 1980.

However, the most recent government statistics show that mortgage repossession claims (the first stage towards repossession of a property) have started to rise from a low base in 2015.  This may well translate to more repossessions in 2020, so what can you do to stop the bailiffs knocking on your door?

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London housing market remains buoyant

Though house price rises in the majority of the country are beginning to slow down, the London housing market continues to rise, as demand for property in the capital shows no signs of slowing down.

For those currently renting property, and first time buyers looking to get onto the housing ladder, the slowing of house price inflation around the country will be welcome news, though the Halifax reports that, for key public sector workers, 70% of towns are out of their price range.

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Divorce. Selling your home

Of all the problems involved in separation and divorce, sorting out what to do with the matrimonial home can cause the most anxiety, as the family home normally represents the largest asset a couple own.

More than 150,000 marriages in the UK end in divorce every year, and Norwich Union believes that up to 35% of these couples are forced to sell their house or flat to cover the cost of their divorce.

Even in cases where one or other partner gets to keep the house as part of the divorce settlement, they may not be able to afford the upkeep of the house, bills, mortgage payments, and council tax with only one income.

The dramatic rise in house prices over the last few years has raised the divorce stakes even higher. In some areas of London a house worth £70,000 in 1993 is now worth upwards of £400,000.

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Over 50s choosing to sell and rent back

Increasing numbers of wealthy older people are choosing to sell their homes and rent them back. Letting agents report that they are seeing more over-50s choosing this option.

The desire to free up cash to enjoy life is one of the reasons for this trend of selling to rent, or the fact that children have left home and the house is too big. In addition, many want to avoid the prospect of avoiding leaving their families with a large inheritance tax bill.

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Guide to Property Chains

Buying a house, along with divorce and the death of a loved one, is one of the most stressful experiences life can throw at us. When a buyer wants to sell their property it can result in a number of properties being dependant on one another. If one sale falls through, it can scupper the whole chain.

In fact, a recent survey by Spring Move found that over 2.2 million sellers in England and Wales have seen their house sales fall through in the last five years.

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Stop Your House Being Repossessed

A recent Times column by Stephen Gerlis, a District Judge at Barnet County Court, looks at the risks people in debt face, and the powers that creditors and courts have to take steps to recover that debt.

With 10,000 people going insolvent every month, a 65% rise in mortgage repossessions, and the UK’s population in a combined £1,300bn of personal debt, the county courts are kept busy.

Interest rate rises mean higher monthly mortgage repayments and, with these increased expenses not being offset by similar rises in incomes, people face an increased risk of losing their homes.

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Auctioning repossessed homes

The BBC carried a story recently on a Torquay woman who lost out on £22,000 after her flat was repossessed and then auctioned by receivers.

The flat was sold by receivers at an auction in London for just £60,000, but just six weeks later it was sold on at another auction for £82,000, meaning that Mrs Smith lost out on £22,000.

This practice, which is standard for borrowers who are unable to stop the repossession of their homes, reveals how some borrowers fail to get the best price for homes when the worst happens, and they are unable to meet mortgage payments.

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Latest testimonial

The sale of my property was well managed with regular communication and advice and support provided throughout the process.  The company also provided legal support through one of their panel solicitors which was professional friendly and reassuring during what was a complex sale.  They are trustworthy and reliable and I would recommend this company to anyone looking to sell their property.  Thank you for making this a much easier process.
R. Mangal, Leyton, London, E10

Sell House Quickly London