Property Rescue Blog

There has been much in the media about the effect of interest rate increases on mortgages and, combined with ever inflating house prices, the fact that repossession numbers are expected to increase over the coming months.

Commentators and analysts anticipate a further interest rate rise soon, putting the poor mortgage payer under strain, but it’s clear that not everyone is feeling the pinch.  High street spending continues to be buoyant and without any sign of the interest rate rises impacting the shopper, the Bank of England will continue its attempts to keep inflation figures under control.

Perhaps the problem is that people who have mortgages that are a relatively small percentage of the overall value of their home ‘feel’ wealthy because of the high asset value tied up in their property.  But for those whose mortgages are high, or who have recently got on to the property ladder, the effect of interest rate rises will be more intense whilst the feeling of sitting on a small fortune in bricks and mortar is non-existent.  It’s these people who are, perhaps, most at risk of repossession.  Mortgage payments go up, finances become stretched, personal borrowing is at the limit and arrears start to accumulate.

Property Rescue can help you if you are in this situation.  They guarantee to buy your home and can complete a sale within a few days, alleviating your stress, sorting out your finances and even allowing you to remain in your home as a tenant if that’s what you choose to do.  If you are facing mortgage arrears or the possibility of repossession, contact Property Rescue to see how they can help.  All calls are in strict confidence and without any obligation.