Record Repossessions Leading to Boom in Quick House Sales
Property Investment experts HousesForCashUK.co.uk are predicting a boom in cash house sales across the UK as more people feel the need to sell their houses quickly.
Manchester, UK (PRWEB) August 23, 2007 -- It is no coincidence that buy-to-let mortgages are booming in the UK whilst repossession and interest rates are on the rise. Most people would expect the buy-to-let market to slow down at times like these, but when the housing market slows down, the demand from people to shift their properties goes up; therefore attracting more private property investors with ready cash for houses at the right price.
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The average house sale via estate agents in the UK achieves only 93% of the estate agent valuations. This is because estate agents often over value houses in order to get the house on sale through their agency. It is also taking much longer to move properties, with many people waiting over 6 months before getting a single offer.
HousesForCashUK.co.uk was established to make it as easy and fast for people who are thinking "I need to sell my house fast". It provides a daily blog on the housing market, as well as a free-phone helpline, online valuation service and free guide: "The 7 Secrets to Selling Your House Fast".
Managing Director, Kenny Goodman said: "We buy properties outright for cash, offering sellers the option of renting back their properties, over a long or short term period, depending on their preference. This affords them a fast and easy, no-fuss way of releasing equity and clearing their debts, without having to move out of their homes. We even offer them an option of buying back the property when in a better financial position to do so."
The type of people that are using cash house sales include:
| | - People who are facing re-possession
- People with mortgage arrears and other secured or un-secured debts
- People who just need a quick sale for what ever reason (such as emigration or divorce)
|
The other growth area is for the increasing number of people that want to sell and rent back their property. This is becoming a very popular way for people to remain in their homes whilst using their equity to clear their rising consumer debts.
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