Brighton, United Kingdom, September 15, 2006 --(PR.com
)-- Selling your house is stressful and the pressure is on with property prices set to storm towards their highest levels since May 2005. However this doesn’t necessarily mean a sale is guaranteed. With buyers having to raise more capital to afford a house, an increase in property chains breaking is highly likely.
Sales can take months to complete and with a recent survey by report provider “Spring Move” stating that over 2.2 million people in England and Wales have seen the sale of their houses fall through due to chains breaking, people are looking for answers to this growing problem.
Those who need to move fast as part of a divorce settlement, or are having difficulty in paying the mortgage, or need to relocate don’t have the option of waiting months for a sale. A break in a chain leaves vendors the risky option of a bank-breaking bridging loan.
In some areas many houses are on the market for months and it’s not unknown for some properties to go unsold for more than a year. People’s plans have to be put on hold until the longed for sale materialises whilst the ongoing ordeal of wanting to move continues to increase stress levels.
What do you do if you don’t have any choice about moving and need a quick sale?
Nationwide’s Group Economist, Fionnuala Earley said: “The annual rate of house price inflation picked up for the third consecutive month in August. House prices are now 6.6% higher than this time last year.”
“Higher interest rates will worsen affordability and make getting on the housing ladder more difficult.”
Figures released from the Council of Mortgage Lenders (CML) show that the number of properties taken into possession in the first half of this year was 8,140, which is 76% higher than the same period last year. According to Royal Institute of Chartered Surveyors (RICS) the stalemate between buyers and sellers has started to crumble. The stock of unsold property has risen 29% from a year ago, but fallen back slightly in recent months.
There seems to be general agreement that home affordability is at its worst levels since 1992, with homeowners struggling to service mortgages. A two-person household on average incomes would have to spend 22% of their take home pay to service their mortgage, a significant increase from the low point of 14.1%.
Rather than join the never-ending line of For Sale boards that litter the streets, many people want a faster solution. At last, National Homebuyers could be the answer. National Homebuyers buy your property by arranging a deal that is quick and hassle-free.
National Homebuyers guarantee to make an offer to purchase on every property. The offer process is very fast and completion can be arranged at a timescale to suit the vendor, in some cases immediately.
Julian King, Director of National Homebuyers said: “Our service is proving to be invaluable to those who want or need to sell their houses quickly.
“Our customers will also benefit by not paying estate agent fees, or a number of months’ mortgage payments. This needs to be balanced against any reduction in price to attract buyers. For those who need to sell quickly we provide a real alternative to the standard house purchase process and can also arrange for sellers to remain in their homes as tenants.”
Customers Mr and Mrs Holmes of Cambridgeshire said: “We wanted to put an offer down on our dream house as quickly as possible and National Homebuyers enabled us to do this. It made the sale of our property a much more simple process. We knew exactly what figures we had to work with and it was a guaranteed sale."
Other advantages of the service include the option of being able to rent back your own property and a £1000 contribution to vendors’ legal fees.
National Homebuyers doesn’t only buy the most attractive houses. They promise to make an offer on any house whether this be a house with fire or storm damage or one that sits on a flood plain. They also buy ex-council ex Coal Board or Housing Association properties.
And for those who may not need to move but simply need access to the capital tied up in their property whether to pay off a debt or provide a more comfortable lifestyle in retirement, there is an option to rent back the property alleviating the stress of packing belongings and moving.
As we enter the months leading up to Christmas, which is one of the peak seasons in the housing market, companies such as National Homebuyers offer an alternative to those people who want to be in their new home for the festive season.
With forecasters such as Neil Woodford from Invesco Perpetual forecasting a 30-40 per cent fall in the market in the next 2-3 years, the sight of rows of ‘for sale’ boards seems set to be part of our landscape but National Homebuyers, who agree to buy your house quickly appear to be an increasingly important player in the property market.
Notes For Editors:
Circumstances for considering National Homebuyers:
· You have sold your house but the chain has broken down and you risk losing your dream house.
· Your house has been on the market for three months or more
· You need to sell your house as part of a settlement in a divorce
· You are relocating to a different part of the country for a new job
· You are undergoing financial difficulty but have capital tied up in your house
· You are retiring and are concerned about how you are going to make your pension stretch to meet your household bills
· You want to move abroad and need to release some money to purchase your new house.
· You have committed to a bridging loan but can’t afford the repayments.
· You want to be able to help a relative financially, for example, being able to pay university fees.
· You are suffering health problems, which are putting further demand on your cash resources.
Contact National Homebuyers 01444 257111 or firstname.lastname@example.org
National Homebuyers Case Study
Mr and Mrs Connerty
Mrs Connerty (61) and her husband (66) took the decision to sell their house to help their daughter set up her own home. Their daughter had just returned from travelling and had a student loan to repay, so taking out a mortgage wasn’t an option. Since both their daughter (23) and son (27) had left home, Mr and Mrs Connerty felt that they had the option of downsizing their home so they could buy a second property. Their daughter currently rents this house from them at a price she can afford, until she can afford take out her own mortgage.
The family had experienced previous disappointment when their house sale fell through at the eleventh hour – just 15 minutes before they were due to move out. Since they had found two properties to buy, one for themselves and one for their daughter, the Connerty’s felt they needed a secure sale that would proceed quickly. Having read about National Homebuyers in a Sunday paper, the couple decided that the service offered by the company was the answer to their dilemma.
They contacted National Homebuyers and decided that this option would give them the peace of mind they needed to ensure that he sale and two purchases went smoothly. The Connerty’s opted to rent back their house for a few months so that they could settle their daughter before thinking about moving themselves.
Mrs Connerty, a parish Administrator, said, “Using National Homebuyers ensured that we were able to take our time, safe in the knowledge that the sale wouldn’t fall through with the removal van in the drive, as had been our previous experience. We knew we wouldn’t get the full market value but National Homebuyers gave us a fair price and the peace of mind it gave to us as a family, made it the right decision. It gave us the opportunity to help provide our daughter gain her independence without crippling her financially.”