Property Rescue Blog

The Bank of England released its latest inflation report this week.  All eyes were on the Bank’s governor, Mervyn King, as he delivered the bad news that had been anticipated – that inflation is up (currently at 4.4%) and is likely to go up yet further, peaking at around 5%.

Mr King described the situation as “painful”; no under-statement for the thousands if not millions of people who are just about managing to make ends meet whilst they live in fear of inflation rising yet further.  For these households there were few rays of hope n the bank’s report.

Output growth has slowed in the UK over the first two quarters of the year.  When figures are released for the third and final quarters, the Bank of England expects to see further slowing and little change during 2009.  But there is a caveat: the Bank says that the slowdown may be “more pronounced” with the possibility of negative growth. In fact Mr King comments that the “outlook is unusually uncertain” and points to significant risks that could affect its projected figures.

It is inevitable under such circumstances that pressure is put on every household’s income, even those who have, until recently, considered themselves well off.  There is evidence that up-market suppliers of products – such as organic or farm produced food – are seeing a drop in their sales as people look to the cheaper supermarkets for a bargain.  Oil prices have started to retreat back down the scale but food costs are unlikely to do so.  Spending on credit is restricted and this has an obvious effect on spending in the high street.

Bank rates remain at 5%, despite industry wanting a cut and homeowners feeling the strain.  Although it is often high interest rates that produce a rise in home repossessions, in the present situation it is more likely to be food and energy prices that are turning the knife in the household budget.  Repossessions are rising steadily – perhaps an inevitability in such circumstances.  But anyone who faces the threat of losing their home owes it to themselves and their family to explore all the options before packing the furniture and moving out.

Talking to the lender in question is always the first step.  Voluntary and government funded agencies can help households budget, prepare payment plans and communicate with mortgage companies and banks.  If, despite this type of intervention, mortgage repayments simply cannot be met then there may seem little option.  Property Rescue is a company that buys home for cash.  They have the ability to step in at the last moment to salvage the situation and help avoid repossession taking place.  Their guarantee of a sale allows families to move on with their lives, perhaps buying a lower priced property, living in rented accommodation, or by taking advantage of the Property Rescue sell and rent back scheme.

The economic gloom that has descended on the UK may be out of our control but there are options when it comes to personal finance – even though it may not always seem like it.  For information and a free, no obligation chat, give Property Rescue a call.

The Bank of England released its latest inflation report this week.  All eyes were on the Bank’s governor, Mervyn King, as he delivered the bad news that had been anticipated – that inflation is up (currently at 4.4%) and is likely to go up yet further, peaking at around 5%.

Mr King described the situation as “painful”; no under-statement for the thousands if not millions of people who are just about managing to make ends meet whilst they live in fear of inflation rising yet further.  For these households there were few rays of hope n the bank’s report.

Output growth has slowed in the UK over the first two quarters of the year.  When figures are released for the third and final quarters, the Bank of England expects to see further slowing and little change during 2009.  But there is a caveat: the Bank says that the slowdown may be “more pronounced” with the possibility of negative growth. In fact Mr King comments that the “outlook is unusually uncertain” and points to significant risks that could affect its projected figures.

It is inevitable under such circumstances that pressure is put on every household’s income, even those who have, until recently, considered themselves well off.  There is evidence that up-market suppliers of products – such as organic or farm produced food – are seeing a drop in their sales as people look to the cheaper supermarkets for a bargain.  Oil prices have started to retreat back down the scale but food costs are unlikely to do so.  Spending on credit is restricted and this has an obvious effect on spending in the high street.

Bank rates remain at 5%, despite industry wanting a cut and homeowners feeling the strain.  Although it is often high interest rates that produce a rise in home repossessions, in the present situation it is more likely to be food and energy prices that are turning the knife in the household budget.  Repossessions are rising steadily – perhaps an inevitability in such circumstances.  But anyone who faces the threat of losing their home owes it to themselves and their family to explore all the options before packing the furniture and moving out.

Talking to the lender in question is always the first step.  Voluntary and government funded agencies can help households budget, prepare payment plans and communicate with mortgage companies and banks.  If, despite this type of intervention, mortgage repayments simply cannot be met then there may seem little option.  Property Rescue is a company that buys home for cash.  They have the ability to step in at the last moment to salvage the situation and help avoid repossession taking place.  Their guarantee of a sale allows families to move on with their lives, perhaps buying a lower priced property, living in rented accommodation, or by taking advantage of the Property Rescue sell and rent back scheme.

The economic gloom that has descended on the UK may be out of our control but there are options when it comes to personal finance – even though it may not always seem like it.  For information and a free, no obligation chat, give Property Rescue a call.

The Bank of England released its latest inflation report this week.  All eyes were on the Bank’s governor, Mervyn King, as he delivered the bad news that had been anticipated – that inflation is up (currently at 4.4%) and is likely to go up yet further, peaking at around 5%.

Mr King described the situation as “painful”; no under-statement for the thousands if not millions of people who are just about managing to make ends meet whilst they live in fear of inflation rising yet further.  For these households there were few rays of hope n the bank’s report.

Output growth has slowed in the UK over the first two quarters of the year.  When figures are released for the third and final quarters, the Bank of England expects to see further slowing and little change during 2009.  But there is a caveat: the Bank says that the slowdown may be “more pronounced” with the possibility of negative growth. In fact Mr King comments that the “outlook is unusually uncertain” and points to significant risks that could affect its projected figures.

It is inevitable under such circumstances that pressure is put on every household’s income, even those who have, until recently, considered themselves well off.  There is evidence that up-market suppliers of products – such as organic or farm produced food – are seeing a drop in their sales as people look to the cheaper supermarkets for a bargain.  Oil prices have started to retreat back down the scale but food costs are unlikely to do so.  Spending on credit is restricted and this has an obvious effect on spending in the high street.

Bank rates remain at 5%, despite industry wanting a cut and homeowners feeling the strain.  Although it is often high interest rates that produce a rise in home repossessions, in the present situation it is more likely to be food and energy prices that are turning the knife in the household budget.  Repossessions are rising steadily – perhaps an inevitability in such circumstances.  But anyone who faces the threat of losing their home owes it to themselves and their family to explore all the options before packing the furniture and moving out.

Talking to the lender in question is always the first step.  Voluntary and government funded agencies can help households budget, prepare payment plans and communicate with mortgage companies and banks.  If, despite this type of intervention, mortgage repayments simply cannot be met then there may seem little option.  Property Rescue is a company that buys home for cash.  They have the ability to step in at the last moment to salvage the situation and help avoid repossession taking place.  Their guarantee of a sale allows families to move on with their lives, perhaps buying a lower priced property, living in rented accommodation, or by taking advantage of the Property Rescue sell and rent back scheme.

The economic gloom that has descended on the UK may be out of our control but there are options when it comes to personal finance – even though it may not always seem like it.  For information and a free, no obligation chat, give Property Rescue a call.

The Bank of England released its latest inflation report this week.  All eyes were on the Bank’s governor, Mervyn King, as he delivered the bad news that had been anticipated – that inflation is up (currently at 4.4%) and is likely to go up yet further, peaking at around 5%.

Mr King described the situation as “painful”; no under-statement for the thousands if not millions of people who are just about managing to make ends meet whilst they live in fear of inflation rising yet further.  For these households there were few rays of hope n the bank’s report.

Output growth has slowed in the UK over the first two quarters of the year.  When figures are released for the third and final quarters, the Bank of England expects to see further slowing and little change during 2009.  But there is a caveat: the Bank says that the slowdown may be “more pronounced” with the possibility of negative growth. In fact Mr King comments that the “outlook is unusually uncertain” and points to significant risks that could affect its projected figures.

It is inevitable under such circumstances that pressure is put on every household’s income, even those who have, until recently, considered themselves well off.  There is evidence that up-market suppliers of products – such as organic or farm produced food – are seeing a drop in their sales as people look to the cheaper supermarkets for a bargain.  Oil prices have started to retreat back down the scale but food costs are unlikely to do so.  Spending on credit is restricted and this has an obvious effect on spending in the high street.

Bank rates remain at 5%, despite industry wanting a cut and homeowners feeling the strain.  Although it is often high interest rates that produce a rise in home repossessions, in the present situation it is more likely to be food and energy prices that are turning the knife in the household budget.  Repossessions are rising steadily – perhaps an inevitability in such circumstances.  But anyone who faces the threat of losing their home owes it to themselves and their family to explore all the options before packing the furniture and moving out.

Talking to the lender in question is always the first step.  Voluntary and government funded agencies can help households budget, prepare payment plans and communicate with mortgage companies and banks.  If, despite this type of intervention, mortgage repayments simply cannot be met then there may seem little option.  Property Rescue is a company that buys home for cash.  They have the ability to step in at the last moment to salvage the situation and help avoid repossession taking place.  Their guarantee of a sale allows families to move on with their lives, perhaps buying a lower priced property, living in rented accommodation, or by taking advantage of the Property Rescue sell and rent back scheme.

The economic gloom that has descended on the UK may be out of our control but there are options when it comes to personal finance – even though it may not always seem like it.  For information and a free, no obligation chat, give Property Rescue a call.

A rather surprising side effect of the current economic slowdown is that the numbers of couples getting divorced has dropped by about 3%.  It seems that people who would like to sell the family home and move on to a new life find they can’t sell and therefore can’t divide up their assets.

It’s not known how many couples are affected; regardless of what the economy is doing it’s always difficult to sort out fundamental truths about relationship breakdowns from the mass of statistics.  But however we look at it, the fact is that many people getting married today will not spend the rest of their lives together.  The peak age for divorce remains the late twenties – a time when career and family start to make demands and, perhaps, when people drift apart in order in an attempt to fulfil their goals.

Regardless of the causes or numbers of divorce in this country, every one of the statistics hides a relationship breakdown that is almost always accompanied by pain and unhappiness.  For the unfortunate few who find themselves in a broken relationship yet trapped within the same four walls as their partner, the situation must be intolerable.  Re-establishing boundaries and re-creating a new life are both important parts of getting back on solid ground, emotionally, following a divorce, and it must be almost impossible to do either when your former partner is present on a daily basis.

In a market where homes simply aren’t moving off the estate agents’ books, is there anything that couples can do to move their situation forward?  Property Rescue offers a service whereby they guarantee to make an offer for any property, in any condition, in any location throughout England and Wales.  If the sellers accept that offer, the sale will go ahead quickly without any risk of it failing at a later stage. 

The amount Property Rescue offers will be below the market value, but with house prices continually falling, this is not always a significant factor.  Moving out of the family home, dividing up the assets and moving on are often the most important considerations.  Selling your home fast through Property Rescue offers other money saving incentives such as no estate agent fees, no Home Information Pack preparation and the regular legal costs on the sale are included. 

If you are feeling trapped by the property crisis and an emotionally fraught relationship, give Property Rescue a call.  They will talk to both you and your ex partner – individually if you wish – so that you can get all the information you need to make your decisions.   Give them a call today and talk to one of their advisers in complete confidence.

Gordon Brown may have been on holiday but he and his Chancellor, Alistair Darling, are working hard in an attempt to give the housing market a boost, and in so doing, improve their own party’s ratings.

It appears that Mr Darling may decide to temporarily suspend stamp duty on homes that fall into the lower bracket, i.e. between £125,000 and £250,000.  As the average home sits neatly within this range the measure is likely to have a big impact on first time buyers, as well as some of those wanting to move up to their second home.

If this ‘stamp duty holiday’ is put into practice (and it’s a big ‘if’ as there are lots of questions about how the fall in revenue would impact the Treasury) it would seem to provide an excellent antidote to the UK’s stagnant housing market.  But the property crisis has been fuelled by many factors not least of which is the lack of mortgage lending.  Some commentators feel that talk of a stamp duty holiday is detrimental to the market in the short term because potential buyers are likely to delay whilst they wait to see what happens.  Politically, it could also prove to be a shot in the foot: those who have recently bought and handed over thousands of pounds in stamp duty taxation are likely to feel pretty miffed that they missed out on such benefits.

If stamp duty news provides a glimmer of hope to some, that must be balanced by yet more bad news from Northern Rock.  The lender announced greater losses than anticipated and said it repossessed 65% more homes over the past year as a result of its previous lending to the sub-prime market.  As the government shores up Northern Rock with a controversial £3.4bn, it is now unavoidably clear that the effects of the credit crunch – which is celebrating its first birthday – will be long lasting.  Even the government is admitting that the property market is unlikely to recover in the short term, leaving borrowers concerned about meeting mortgage repayments as fuel and living costs rise, and those who want to sell feeling that their hands are tied.  If you are facing the possibility of repossession or you need to sell up fast because of personal circumstances, contact Property Rescue to find out about their guaranteed sale service. 

Property Rescue will provide a written valuation for your property and, if you accept that valuation, the sale is guaranteed to go through.  Whether or not you will pay stamp duty is dependent on the government’s decision of course, but you will save money by not having to instruct estate agents and, because the transaction is classed as ‘private’, you won’t have to prepare a Home Information Pack.  In addition, Property Rescue pay the legal fees on your sale. 

Give Property Rescue a call to find out more.  Their advice is free and entirely without obligation.