If like many people you have been made redundant recently you will be wondering what the future might hold for you following your redundancy. But one thing that will be uppermost in your mind must be “How do I pay my bills while I am searching for a new job?” This must be the number one worry of anyone who has just been made redundant. The worry might be for small items such as the little luxuries that you had become used to through to, how to pay for the food we need, how do I pay for the gas and electricity but for many people the most pressing question has to be how do I continue to pay my monthly mortgage payments? If this is the situation that you now find yourself in and you are struggling to pay your mortgage because you have been made redundant you need to take action quickly to avoid falling in to debt or behind with your mortgage payments which can lead to mortgage arrears and house repossession. If you get into debt and your lender thinks you’re not dealing with the problem, they will take action through the courts. This could lead to you losing your home. If you are recently redundant and seeking to find work you may be able to get certain benefits which give help towards your mortgage costs. This might include the Housing Costs Payment contribution or Support for Mortgage Interest (SMI) which is paid towards the cost of the interest payments on your mortgage. While you remain redundant they may also contribute towards the interest payments on loans taken out to pay for repairs or home improvements. Housing costs payments can’t be used to pay off any of the capital of your mortgage. Housing costs are paid at a standard rate of interest, (currently 3.63%) regardless of the rate of interest you are actually paying, covering mortgage interest up to £200,000 on your mortgage and only last for 2 years after your redundancy. This means that, in many cases, the payments will be lower than the interest you have to pay. You will have to make up any difference between the interest due to the lender and the amount of interest covered by the housing costs payments. However, following your redundancy if you can’t afford to make up the difference, it might be worth asking your lender if they will just accept the housing costs payments for the time being until you can make up the full amount at a later date. Generally Support for Mortgage Interest payments do not start until 13 weeks after your redundancy, unless you are over 60 when there is no waiting period following your redundancy for the housing cost benefit to start, these 13 weeks may be the time that you start to slip behind on your mortgage repayments and slips into mortgage arrears. If after prolonged unemployment you are struggling with your mortgage payments you may consider just handing the keys back to the mortgage lender. This is one of the worst thing you can do. The worst things you could do are; Hand back the keys to the mortgage lender, Do nothing and ignore your mortgage debt/mortgage arrears. Wait for your mortgage lender to go through the courts to repossess your house and get you evicted from your property. However, following your redundancy if you really have no other option, you would be better to try and sell the property rather than hand back the keys or do nothing. This is because, you will still be legally responsible for mortgage payments, buildings insurance and other costs until the property is sold. Once the property is sold, your mortgage lender is likely to get a lot less for it than you would. Properties where the owner has been evicted (called repossessions) or the keys have been handed back to the lender usually sell for considerably less. than they are worth. Often selling for much less than you currently own to the mortgage lender, leaving you with thousands of pounds still outstanding to the lender. Redundancy is a very traumatic time for anybody, but by ignoring the problems arising from your redundancy will only make matters worse. As soon as you have been made redundant it is so important to set a plan of action to help you deal with all aspects associated with redundancy and to assist you to plan for your future. If however following your redundancy you have a long period of unemployment you may need to consider selling your home. We can assist you to sell your property and achieve close to the true market value for your property
September 5, 2012
Can’t Sell? But have to sell? Is it keeping you awake at night with worry?
If you want to sell property fast – we can buy it fast!
Want to achieve full market price for your property? We have innovative, tried and tested ways to achieve this too.
We have helped many home sellers achieve their dreams, if it worked for them, why won’t it work for you?
We don’t charge any fees.
How to sell your property fast
At Quick Home Seller we like to challenge the old systems that have been used to sell and buy property since property transactions began. Putting your property for sale with an estate agency is no guarantee that it will sell. It’s time to bring property selling and buying into the 21st Century to achieve the fast result that you want If you have listed your property with an Estate Agent and have failed to get an offer then you will understand what I mean.
After the initial rush of viewings you may or may not have received an offer. The fact that you are reading this shows that for one reason or another you still can’t sell your property.
Sell Your Property Quickly For Full Market Value!
I am pretty sure that your estate agent has asked you to reduce the price, by just another small £1,000, £2,000, or even £5,000! Then they are sure they will sell your home. How many times can you reduce the price? Surely there has to be a better way! We have tried and tested our new way and have achieved speedy sales for many of our customers either by buying it ourselves or assisting you to attract potential buyers who believe they are unable to buy their own home, but with our innovative system they can buy your house, and you will get the full market value! We can potentially open up the untapped market by as much as 90% more potential new home owners than a traditional estate agent can ever hope to in their wildest dreams to be able to.
So still think you can’t sell your house or flat? Challenge us to buy it or assist you to sell it for more than the estate agents are likely to achieve and no estate agency fees either!
This is what Pamela had to say about our services
Please accept my gratitude for the way you handled the sale of my cottage. It wasn’t an easy decision for me to make, but I have been so glad that I got you involved, especially as I had the cottage on the market for such a long time. You certainly took away any stress or burden, for which I thank you, because moving, is such a worry.
However, I am extremely happy in my new home. If I have any friends who are anxious to move, I would definitely recommend you. You have become good friends.
Thank you again
Pamela (Heybridge, Essex)
Is it time that you got up to speed and talked to us to see how we can get your property sold fast and achieve a price close to the true market value?
Have you had your house on the market for some time now and are just not getting any offers or just insulting ones? Are you asking yourself why you can’t sell your property? Don’t feel bad that you can’t sell your house; there are many other people in the same situation as you, who also can’t sell at the moment. There is nothing wrong with your house and under normal selling conditions you would have achieved a sale within a short period of time after listing the property with an estate agent. But in today’s financial turmoil it is unsurprising that you are struggling and can’t sell the house as a large proportion of the population is either waiting to see if issues such as the unstable future of the Euro are resolved or if the threat of unemployment is removed before they make the large financial commitment to purchase a home.
Let’s look at some of the issues that are preventing you from selling your property.
All major banks and financial houses are now insisting on a potential purchaser putting a deposit of 20 % to 25% of the purchase price down.
The average house price in England and Wales is now £162.019 according to the UK Land Registry on 28th Oct 2011. So to buy an average priced house in the UK a buyer would need to have a deposit of between £32,403 & £40,504. Rather a lot and I really can’t see how someone who is already paying rent each month can afford to save this amount of deposit. This could be the major problem why you can’t sell your house.
Those who have managed to save the deposit or can borrow from the bank of Mum and Dad might not have a squeaky clean credit rating. They only need to have 1 missed credit card payment to reduce their chances of being granted a mortgage and as you can imagine if they have more bad marks than that there is little hope of them being granted that mortgage. Is it becoming clearer and clearer why you can’t sell your house?
Is it possible that you owe more on your mortgage than your house is worth? This is known as Negative Equity.
How can you sell your house and pay back all the money you owe to the bank?
I don’t have any additional savings to pay back any shortfall from the sale price of the house to the amount outstanding on the mortgage.
Surely this means I can’t sell doesn’t it?
Well no actually! We have a fantastic way that allows you to sell your property and walk away owing nothing; yes I did say nothing, zero, nada to the bank! Want to know how? Enter your details to the right and we will contact you to discuss your options.
So what would say if we could show you a new and better way to sell your home?
The choice is yours continue to list it with the dinosaur estate agents and continue to say I can’t sell my house or fill in the form to the right and learn the new smart way that gets your house sold today.
A great time to be a Landlord ?
March 15, 2013
So rents are rising across the country and yields for landlords are increasing so all is rosy in the landlords world isn’t it?
Well no actually, the number of people in rented accommodation who are in severe arrears has reached its highest level in three years and figures show that there are 78,970 tenants at least 2 months behind in rent payments, nearly 11,400 more than the same period last year and the highest level since the third quarter of 2008. 9.3% of all rent in England and Wales was late or unpaid in November.
The number of tenants evicted through court orders has also risen, with 24,966 people served eviction notices in the last quarter of 2011, an increase of 11% year on year.
In addition councils with HMO’s are starting to ask for licences to be applied for, meaning that multi-let landlords have to deal with the uncertainty that they will still be allowed to trade.
House prices outside of London are still falling every month so for those who are looking for capital growth the outlook is less than good.
If you are a professional landlord it’s all par for the course but if you had to rent your house in order to move yourself it’s all a bit grim and with house sales at an all time low and house sales failing at an all time high.
So you want to sell but the UK’s bankrupt economy and financial market disaster are stopping you what can you do as a landlord whether on purpose or inadvertent?
Sometimes you need to look outside the normal methods of selling to achieve what you want to achieve and we at quick home seller are specialists in the field of buying property which has not sold through the estate agent route so why not contact us to see if we can help.
House sale failures up by a third
April 22, 2013
So how many house sales fell over in the last months of 2011? Half a million according to online conveyancing service In-Deed.net
Large numbers of buyers were taking their homes off the market due to “sheer frustration”, although half of them lost an average of £5,500.
The major reason sales didn’t complete was lack of lending by mortgage providers, worsened by falling service standards by property professionals and delays and mistakes by solicitors, the report claimed.
Harry Hill, chairman of In-Deed.net, said: “With mortgage finance harder than ever to secure and poor service standards rife in estate agency and conveyancing, it’s no surprise that home-buying is such a frustrating process.”
Misery Continues for landlords
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It’s been a bad week to be a landlord, not a week seems to go by nowadays without someone engaging in Landlord bashing in the press and this week is no exception.
It started off with George Osborne announcing that he is set to hand new powers to the Bank of England to limit loan to values on mortgages to “control busts and booms, by banning unsustainable mortgages and preventing another housing bubble, or stimulating more lending”. Well I for one see it as just more unneeded interference and a knee jerk reaction from a government looking to be seen to be doing something rather than fiddling while Rome burns !
He said of the Bank’s new powers that it did not have to use them, adding: “I should say that these are just possibilities – they are potential tools that the committee might want to use” Well I can see them not using their new superpowers can’t you remember “with great power comes great responsibility” to quote the spiderman films
On Tuesday the FSA banned sale and rent back “for the foreseeable future” as it says that most of the firms it licensed are basically crooks – well who licensed them and was meant to manage them in the first place ? When operated correctly, sale and rent back is a great tool for some sellers but when unscrupulous people are allowed to practice it all falls apart. How many times can the FSA fail in it’s duties before someone points the finger at them for a change ?
On the same day, Caroline Flint called for private landlords whose homes do not meet minimum energy efficiency standards should be not be able to house tenants on housing benefit. Well that’s great Caroline but how many times can you penalise the landlord and not give anything back to them ? There is little or no reason to let to LHA tenants any more, LHA allowances are reducing, rent is still paid to the tenant not the landlord and many local councils are helping rogue tenants to stay in property paying no rent by telling them how to maximise their rights. How about the rights of landlords to be paid rent I ask you ?
Do you sometimes think that LIBOR the interbank lending rate seems ridiculously high ? Well you might just be right, More than a dozen traders and brokers in London and Asia have been fired, suspended or put on leave by their employers as part of a probe into the alleged manipulation of global lending rates.
Since late 2010 regulators have been investigating banks that help set interbank lending rates in London and Tokyo, which are used to set interest rates on hundreds of trillions of dollars of securities.
Authorities are seeking to determine whether banks colluded to set overnight rates during the global financial crisis, and whether traders and their clients used the information to place profitable trades.
Swiss authorities said last week they had received information about possible collusion between deriviatives traders concerning LIBOR and TIBOR.
The Swiss Competition Commission said it was investigating 12 US, European and Japanese banks on suspicion of conspiring to manipulate interbank lending rates