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Any Interest In The Budget?

Gordon Brown’s budget this week had a few surprises in store, not least the reduction of the basic rate of income tax and the abandonment of the 10% rate. Mr Brown was keen to point out that his budget was fiscally neutral (in other words it didn’t raise any money, nor did it give any away) but focused on simplification and redistribution of taxes and allowances in a more equitable way. Whether or not you agree with that is, of course, entirely dependent upon your circumstances.

In a country where 70% of us are property owner-occupiers and a good proportion of the remaining 30% aspire to get their feet on the housing ladder, it’s unsurprising that interest rate fluctuations are of keen interest to a great many. Mr Brown has made it known that he is keen to see long term fixed interest rates set at the beginning of a mortgage rather than the 2, 3 or 5 year deals common in the market today, but as yet the market is slow to take up his prompt.

The Retail Price Index (RPI) is at its highest level since 1991 and the Bank of England is likely to want to do something to curb rising levels of spend. Even with Mr Brown’s ‘equitable budget’, analysts are predicting that UK interest rates are likely to rise another quarter of one per cent in the next month or two, putting further pressure on home owners.

Property Rescue offers a solution to those struggling to meet repayments on their mortgage or other unsecured loans. If you are facing financial difficulties, talk to Property Rescue to find out how the buy and rent-back option can be the answer to ever-spiralling mortgage payments.

28 March 2007. Interest Rates | Comments (0) -

Housing Crash?

This week the financial news has been dominated by talk of a US housing price crash and the difficulty that poses to Americans who have taken out equity against the price of their homes. Not a problem in a market that is rising, but a very different story when property prices are tumbling.

But what does that have to do with the UK economy, which most financial forecasters see as buoyant? Perhaps the most obvious impact is that when American consumers don’t have as much money in their pockets the rest of the world starts to sit up and take notice. Whether the housing crash will spread to the UK is hotly contested by those in the know, but it is an undeniable fact that property prices in some areas of the country are seeing a definite slow-down.

What many people forget is that the price in the estate agent’s window is seldom the price that was finally achieved for the property, and in some cases the figures are not even close. It’s easy to look down a street of houses and set a price for your own house based on what your neighbour is asking, but if your property doesn’t sell you’ll be facing a dilemma.

Property Rescue offers a guaranteed sale of your property within a short space of time….sometimes just days. The price that is offered will be a below what you were asking, but against that fact are the benefits of moving quickly, having a guaranteed sale, and knowing exactly what you will get for your house instead of entering into a stressful series of negotiations. And in an uncertain market place, that’s worth a great deal!

16 March 2007. Housing Crash | Comments (0) -

WHAT IS REPOSSESSION?

Ask any person in the street what repossession means and they will usually reply that it’s the loss of someone’s home through non-payment of a mortgage. Of course, they’re absolutely right, but what people often fail to understand is that if your property is repossessed you may never be able to get a mortgage again.

But repossession happens quickly and for many people the options of funding have simply run out. There seems no place to turn and no alternative but to hand your home back to the mortgage company, turn the key in the lock for the very last time and look forward to a life-time of paying rent.

What many people in this position fail to realise is that there is another option. Companies such as Property Rescue will value your home, buy it from you and stop repossession in its tracks. All this takes place within a matter of days – unlike normal house sales that take months to complete. You can move out of your home into a lower priced property, rent a property for a period of time until your finances have recovered, or stay exactly where you are and rent your home back from Property Rescue.

5 March 2007. Repossession | Comments (0) -

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