Property Rescue Blog

As we approach Christmas and the New Year it’s a good time to reflect on what has happened in our economy during the past 12 months and where we are likely to go as the recession bites in 2009. 

2008 has been a traumatic year for the world’s financial markets.  One could be forgiven for being rather gloomy about the current situation and no one would argue that there is plenty to be gloomy about!  However, there are one or two chinks of sunshine and perhaps we should – especially at this time of year – try to look at the more positive aspects of recent events.  After all, the banks could have gone bankrupt and they didn’t, housing prices could have crashed beyond all expectations and they haven’t, and now, as we head towards 2009, there is just a glimmer of hope that property is starting to pick up again, albeit very slowly.

Another fact is low interest rates – bad news for savers but good news for mortgage holders because whilst lenders haven’t passed on the full interest rate decrease, the majority of loans cost substantially less to service than they did this time last year.  Oil prices are about a third of their peak and this is reflected in fuel prices on the forecourt.  Food prices have stabilised but with competition strong, the supermarkets have some exceptionally good promotions that are likely to benefit most shoppers.

Nevertheless, thousands of people have already lost their jobs and more will do so over the coming months.  Some pundits say that the total jobless will reach 2.5 million by April next year.  Let’s hope they’re wrong but if those predictions are anywhere near correct there are many who will be struggling with their mortgage repayments, even should bank rates fall further.  

Christmas is a time when we expect to be in our homes with our family and loved ones, feeling secure about the future.  Unfortunately, there are many who will not be able to do that this year, and will be very fearful about their job security as they start back at work in 2009.  Remaining in your home is a top priority for many, no matter what their financial circumstances, but as income reduces it’s an objective that can sometimes seem impossible.

Property Rescue has a scheme whereby people can stay in their own homes even if they can no longer afford their mortgage repayments.  This is called a ‘sell and rent back’ scheme, where you, as a property owner, sell your home to Property Rescue but can stay in it as a tenant.  Rent is agreed in advance and you have the normal protection under the law that any tenant has.  Although you will no longer own your home, you don’t have the disruption of moving house nor the trauma of repossession.

Property Rescue has helped hundreds of families over 2008.  If you are in a situation where you face the possibility of repossession or your debts are threatening to overwhelm you, call Property Rescue for an informal chat.  Their consultants will talk to you without obligation and give you a free valuation for your home.

As we approach Christmas and the New Year it’s a good time to reflect on what has happened in our economy during the past 12 months and where we are likely to go as the recession bites in 2009. 

2008 has been a traumatic year for the world’s financial markets.  One could be forgiven for being rather gloomy about the current situation and no one would argue that there is plenty to be gloomy about!  However, there are one or two chinks of sunshine and perhaps we should – especially at this time of year – try to look at the more positive aspects of recent events.  After all, the banks could have gone bankrupt and they didn’t, housing prices could have crashed beyond all expectations and they haven’t, and now, as we head towards 2009, there is just a glimmer of hope that property is starting to pick up again, albeit very slowly.

Another fact is low interest rates – bad news for savers but good news for mortgage holders because whilst lenders haven’t passed on the full interest rate decrease, the majority of loans cost substantially less to service than they did this time last year.  Oil prices are about a third of their peak and this is reflected in fuel prices on the forecourt.  Food prices have stabilised but with competition strong, the supermarkets have some exceptionally good promotions that are likely to benefit most shoppers.

Nevertheless, thousands of people have already lost their jobs and more will do so over the coming months.  Some pundits say that the total jobless will reach 2.5 million by April next year.  Let’s hope they’re wrong but if those predictions are anywhere near correct there are many who will be struggling with their mortgage repayments, even should bank rates fall further.  

Christmas is a time when we expect to be in our homes with our family and loved ones, feeling secure about the future.  Unfortunately, there are many who will not be able to do that this year, and will be very fearful about their job security as they start back at work in 2009.  Remaining in your home is a top priority for many, no matter what their financial circumstances, but as income reduces it’s an objective that can sometimes seem impossible.

Property Rescue has a scheme whereby people can stay in their own homes even if they can no longer afford their mortgage repayments.  This is called a ‘sell and rent back’ scheme, where you, as a property owner, sell your home to Property Rescue but can stay in it as a tenant.  Rent is agreed in advance and you have the normal protection under the law that any tenant has.  Although you will no longer own your home, you don’t have the disruption of moving house nor the trauma of repossession.

Property Rescue has helped hundreds of families over 2008.  If you are in a situation where you face the possibility of repossession or your debts are threatening to overwhelm you, call Property Rescue for an informal chat.  Their consultants will talk to you without obligation and give you a free valuation for your home.

As we approach Christmas and the New Year it’s a good time to reflect on what has happened in our economy during the past 12 months and where we are likely to go as the recession bites in 2009. 

2008 has been a traumatic year for the world’s financial markets.  One could be forgiven for being rather gloomy about the current situation and no one would argue that there is plenty to be gloomy about!  However, there are one or two chinks of sunshine and perhaps we should – especially at this time of year – try to look at the more positive aspects of recent events.  After all, the banks could have gone bankrupt and they didn’t, housing prices could have crashed beyond all expectations and they haven’t, and now, as we head towards 2009, there is just a glimmer of hope that property is starting to pick up again, albeit very slowly.

Another fact is low interest rates – bad news for savers but good news for mortgage holders because whilst lenders haven’t passed on the full interest rate decrease, the majority of loans cost substantially less to service than they did this time last year.  Oil prices are about a third of their peak and this is reflected in fuel prices on the forecourt.  Food prices have stabilised but with competition strong, the supermarkets have some exceptionally good promotions that are likely to benefit most shoppers.

Nevertheless, thousands of people have already lost their jobs and more will do so over the coming months.  Some pundits say that the total jobless will reach 2.5 million by April next year.  Let’s hope they’re wrong but if those predictions are anywhere near correct there are many who will be struggling with their mortgage repayments, even should bank rates fall further.  

Christmas is a time when we expect to be in our homes with our family and loved ones, feeling secure about the future.  Unfortunately, there are many who will not be able to do that this year, and will be very fearful about their job security as they start back at work in 2009.  Remaining in your home is a top priority for many, no matter what their financial circumstances, but as income reduces it’s an objective that can sometimes seem impossible.

Property Rescue has a scheme whereby people can stay in their own homes even if they can no longer afford their mortgage repayments.  This is called a ‘sell and rent back’ scheme, where you, as a property owner, sell your home to Property Rescue but can stay in it as a tenant.  Rent is agreed in advance and you have the normal protection under the law that any tenant has.  Although you will no longer own your home, you don’t have the disruption of moving house nor the trauma of repossession.

Property Rescue has helped hundreds of families over 2008.  If you are in a situation where you face the possibility of repossession or your debts are threatening to overwhelm you, call Property Rescue for an informal chat.  Their consultants will talk to you without obligation and give you a free valuation for your home.

As we approach Christmas and the New Year it’s a good time to reflect on what has happened in our economy during the past 12 months and where we are likely to go as the recession bites in 2009. 

2008 has been a traumatic year for the world’s financial markets.  One could be forgiven for being rather gloomy about the current situation and no one would argue that there is plenty to be gloomy about!  However, there are one or two chinks of sunshine and perhaps we should – especially at this time of year – try to look at the more positive aspects of recent events.  After all, the banks could have gone bankrupt and they didn’t, housing prices could have crashed beyond all expectations and they haven’t, and now, as we head towards 2009, there is just a glimmer of hope that property is starting to pick up again, albeit very slowly.

Another fact is low interest rates – bad news for savers but good news for mortgage holders because whilst lenders haven’t passed on the full interest rate decrease, the majority of loans cost substantially less to service than they did this time last year.  Oil prices are about a third of their peak and this is reflected in fuel prices on the forecourt.  Food prices have stabilised but with competition strong, the supermarkets have some exceptionally good promotions that are likely to benefit most shoppers.

Nevertheless, thousands of people have already lost their jobs and more will do so over the coming months.  Some pundits say that the total jobless will reach 2.5 million by April next year.  Let’s hope they’re wrong but if those predictions are anywhere near correct there are many who will be struggling with their mortgage repayments, even should bank rates fall further.  

Christmas is a time when we expect to be in our homes with our family and loved ones, feeling secure about the future.  Unfortunately, there are many who will not be able to do that this year, and will be very fearful about their job security as they start back at work in 2009.  Remaining in your home is a top priority for many, no matter what their financial circumstances, but as income reduces it’s an objective that can sometimes seem impossible.

Property Rescue has a scheme whereby people can stay in their own homes even if they can no longer afford their mortgage repayments.  This is called a ‘sell and rent back’ scheme, where you, as a property owner, sell your home to Property Rescue but can stay in it as a tenant.  Rent is agreed in advance and you have the normal protection under the law that any tenant has.  Although you will no longer own your home, you don’t have the disruption of moving house nor the trauma of repossession.

Property Rescue has helped hundreds of families over 2008.  If you are in a situation where you face the possibility of repossession or your debts are threatening to overwhelm you, call Property Rescue for an informal chat.  Their consultants will talk to you without obligation and give you a free valuation for your home.

As we approach Christmas and the New Year it’s a good time to reflect on what has happened in our economy during the past 12 months and where we are likely to go as the recession bites in 2009. 

2008 has been a traumatic year for the world’s financial markets.  One could be forgiven for being rather gloomy about the current situation and no one would argue that there is plenty to be gloomy about!  However, there are one or two chinks of sunshine and perhaps we should – especially at this time of year – try to look at the more positive aspects of recent events.  After all, the banks could have gone bankrupt and they didn’t, housing prices could have crashed beyond all expectations and they haven’t, and now, as we head towards 2009, there is just a glimmer of hope that property is starting to pick up again, albeit very slowly.

Another fact is low interest rates – bad news for savers but good news for mortgage holders because whilst lenders haven’t passed on the full interest rate decrease, the majority of loans cost substantially less to service than they did this time last year.  Oil prices are about a third of their peak and this is reflected in fuel prices on the forecourt.  Food prices have stabilised but with competition strong, the supermarkets have some exceptionally good promotions that are likely to benefit most shoppers.

Nevertheless, thousands of people have already lost their jobs and more will do so over the coming months.  Some pundits say that the total jobless will reach 2.5 million by April next year.  Let’s hope they’re wrong but if those predictions are anywhere near correct there are many who will be struggling with their mortgage repayments, even should bank rates fall further.  

Christmas is a time when we expect to be in our homes with our family and loved ones, feeling secure about the future.  Unfortunately, there are many who will not be able to do that this year, and will be very fearful about their job security as they start back at work in 2009.  Remaining in your home is a top priority for many, no matter what their financial circumstances, but as income reduces it’s an objective that can sometimes seem impossible.

Property Rescue has a scheme whereby people can stay in their own homes even if they can no longer afford their mortgage repayments.  This is called a ‘sell and rent back’ scheme, where you, as a property owner, sell your home to Property Rescue but can stay in it as a tenant.  Rent is agreed in advance and you have the normal protection under the law that any tenant has.  Although you will no longer own your home, you don’t have the disruption of moving house nor the trauma of repossession.

Property Rescue has helped hundreds of families over 2008.  If you are in a situation where you face the possibility of repossession or your debts are threatening to overwhelm you, call Property Rescue for an informal chat.  Their consultants will talk to you without obligation and give you a free valuation for your home.

For the first time this decade the number of people without jobs has risen to more than one million. 

In an economic downturn this announcement was very much on the cards but of greater concern over the long term is the fall in job vacancies coming on to the market.  The Office for National Statistics (ONC) reports that employment amongst people of working age fell by 0.4% in the quarter ended October 2008, a similar fall to that seen in the previous quarter.  This percentage may not seem large, but what is worth noting is that the number of available jobs fell by 134,000 over the same quarter – the biggest fall for 16 years. 

Over one million people are now claiming unemployment benefit, an increase of some 75,000 over the previous month’s figures and up more than a quarter of a million during 2008 as a whole.  Redundancies are also on the increase with 41,000 more people losing their jobs than in the quarter ended July 2008.

At present, the ONS reports that average earnings for those in employment is unchanged.  With bargains on the high street, petrol prices coming down and the promise of massive January sales, those who are still in work can make significant savings by shopping carefully.  However, there is a huge feeling of nervousness amongst the employed, not helped by analysts’ predictions that three million will be unemployed by 2010.

To present a balanced view, not every commentator shares this pessimistic approach and it is only as the recession plays out its next act that we will see more clearly how the global and UK downturn is likely to affect us all.  In the meantime, the people who cannot find jobs are the ones who are suffering, especially in the lead up to Christmas.  Some of those worst affected will be facing a very real possibility of losing their homes as a result of failing to keep up their mortgage repayments.  For these, Property Rescue offers a solution by buying their home and allowing them to stay there as tenants.  This can mean that people in seemingly impossible situations can rebuild their lives without the stress of moving or, worse, becoming homeless.

Property Rescue deals with every client individually and makes sure all aspects of the transaction are explained in full before a decision is made.  There is no obligation to proceed if, after initial discussions, you feel their offer isn’t right for you.  No salesmen will call and you won’t be pestered by phone. 

Call Property Rescue today to find out more about their buy and rent back scheme.  Remember, the advice of their consultants is without charge and in complete confidence.

For the first time this decade the number of people without jobs has risen to more than one million. 

In an economic downturn this announcement was very much on the cards but of greater concern over the long term is the fall in job vacancies coming on to the market.  The Office for National Statistics (ONC) reports that employment amongst people of working age fell by 0.4% in the quarter ended October 2008, a similar fall to that seen in the previous quarter.  This percentage may not seem large, but what is worth noting is that the number of available jobs fell by 134,000 over the same quarter – the biggest fall for 16 years. 

Over one million people are now claiming unemployment benefit, an increase of some 75,000 over the previous month’s figures and up more than a quarter of a million during 2008 as a whole.  Redundancies are also on the increase with 41,000 more people losing their jobs than in the quarter ended July 2008.

At present, the ONS reports that average earnings for those in employment is unchanged.  With bargains on the high street, petrol prices coming down and the promise of massive January sales, those who are still in work can make significant savings by shopping carefully.  However, there is a huge feeling of nervousness amongst the employed, not helped by analysts’ predictions that three million will be unemployed by 2010.

To present a balanced view, not every commentator shares this pessimistic approach and it is only as the recession plays out its next act that we will see more clearly how the global and UK downturn is likely to affect us all.  In the meantime, the people who cannot find jobs are the ones who are suffering, especially in the lead up to Christmas.  Some of those worst affected will be facing a very real possibility of losing their homes as a result of failing to keep up their mortgage repayments.  For these, Property Rescue offers a solution by buying their home and allowing them to stay there as tenants.  This can mean that people in seemingly impossible situations can rebuild their lives without the stress of moving or, worse, becoming homeless.

Property Rescue deals with every client individually and makes sure all aspects of the transaction are explained in full before a decision is made.  There is no obligation to proceed if, after initial discussions, you feel their offer isn’t right for you.  No salesmen will call and you won’t be pestered by phone. 

Call Property Rescue today to find out more about their buy and rent back scheme.  Remember, the advice of their consultants is without charge and in complete confidence.

For the first time this decade the number of people without jobs has risen to more than one million. 

In an economic downturn this announcement was very much on the cards but of greater concern over the long term is the fall in job vacancies coming on to the market.  The Office for National Statistics (ONC) reports that employment amongst people of working age fell by 0.4% in the quarter ended October 2008, a similar fall to that seen in the previous quarter.  This percentage may not seem large, but what is worth noting is that the number of available jobs fell by 134,000 over the same quarter – the biggest fall for 16 years. 

Over one million people are now claiming unemployment benefit, an increase of some 75,000 over the previous month’s figures and up more than a quarter of a million during 2008 as a whole.  Redundancies are also on the increase with 41,000 more people losing their jobs than in the quarter ended July 2008.

At present, the ONS reports that average earnings for those in employment is unchanged.  With bargains on the high street, petrol prices coming down and the promise of massive January sales, those who are still in work can make significant savings by shopping carefully.  However, there is a huge feeling of nervousness amongst the employed, not helped by analysts’ predictions that three million will be unemployed by 2010.

To present a balanced view, not every commentator shares this pessimistic approach and it is only as the recession plays out its next act that we will see more clearly how the global and UK downturn is likely to affect us all.  In the meantime, the people who cannot find jobs are the ones who are suffering, especially in the lead up to Christmas.  Some of those worst affected will be facing a very real possibility of losing their homes as a result of failing to keep up their mortgage repayments.  For these, Property Rescue offers a solution by buying their home and allowing them to stay there as tenants.  This can mean that people in seemingly impossible situations can rebuild their lives without the stress of moving or, worse, becoming homeless.

Property Rescue deals with every client individually and makes sure all aspects of the transaction are explained in full before a decision is made.  There is no obligation to proceed if, after initial discussions, you feel their offer isn’t right for you.  No salesmen will call and you won’t be pestered by phone. 

Call Property Rescue today to find out more about their buy and rent back scheme.  Remember, the advice of their consultants is without charge and in complete confidence.

For the first time this decade the number of people without jobs has risen to more than one million.

In an economic downturn this announcement was very much on the cards but of greater concern over the long term is the fall in job vacancies coming on to the market.  The Office for National Statistics (ONC) reports that employment amongst people of working age fell by 0.4% in the quarter ended October 2008, a similar fall to that seen in the previous quarter.  This percentage may not seem large, but what is worth noting is that the number of available jobs fell by 134,000 over the same quarter – the biggest fall for 16 years.

Over one million people are now claiming unemployment benefit, an increase of some 75,000 over the previous month's figures and up more than a quarter of a million during 2008 as a whole.  Redundancies are also on the increase with 41,000 more people losing their jobs than in the quarter ended July 2008.

At present, the ONS reports that average earnings for those in employment is unchanged.  With bargains on the high street, petrol prices coming down and the promise of massive January sales, those who are still in work can make significant savings by shopping carefully.  However, there is a huge feeling of nervousness amongst the employed, not helped by analysts' predictions that three million will be unemployed by 2010.

To present a balanced view, not every commentator shares this pessimistic approach and it is only as the recession plays out its next act that we will see more clearly how the global and UK downturn is likely to affect us all.  In the meantime, the people who cannot find jobs are the ones who are suffering, especially in the lead up to Christmas.  Some of those worst affected will be facing a very real possibility of losing their homes as a result of failing to keep up their mortgage repayments.  For these, Property Rescue offers a solution by buying their home and allowing them to stay there as tenants.  This can mean that people in seemingly impossible situations can rebuild their lives without the stress of moving or, worse, becoming homeless.

Property Rescue deals with every client individually and makes sure all aspects of the transaction are explained in full before a decision is made.  There is no obligation to proceed if, after initial discussions, you feel their offer isn't right for you.  No salesmen will call and you won't be pestered by phone.

Call Property Rescue today to find out more about their buy and rent back scheme.  Remember, the advice of their consultants is without charge and in complete confidence.

It’s that time of year when we all become frazzled with the chores of Christmas, the biggest of which is undoubtedly the Christmas shopping.  Finding original presents for everyone can be a real nightmare and when money is tight the whole task is even more fraught.

Shops are reporting that trade is light this year – no surprise in view of the state of the economy and people’s fears over job losses.  Those who have been unlucky enough to already lose their jobs will be looking to cut costs wherever they can, whilst others, such as the thousands employed by Woolworths, will be looking to the future with trepidation.

It is tempting to put the Christmas purchases on the credit card and worry about the bill later, but the income of many households has fallen and cannot be compared to this time last year when we were all spending more freely.  Those who have been unable to keep up with repayments on their credit cards will find that the interest will mount up considerably and if the debt cannot be controlled, interest will become payable on the interest.

Of course, the best policy is to use cash, not credit, for Christmas shopping.  But when we do use credit cards, keeping interest payments under control is something we all should try to do.  The nought per cent deals are few and far between, but it’s still worth shopping around to make sure you are not paying more than you have to. 

Bad debt will affect your credit rating and this will make it difficult to get future loans or credit.  If debts threaten to get out of control you need to take action.  Working out your monthly or weekly budget is always the first step and there are free services that will help you do this.  Be honest with yourself about how much you spend each week – even slight changes to your lifestyle can mean that you make savings.  Being aware of what you spend and how you spend it is a key part of controlling your outgoings.  It may be possible to manage your debt by agreeing to pay off smaller amounts of your loan or extending the time period over which repayments are made.  Always talk to your lender(s), as ignoring letters and phone calls will only make your situation worse.

Financial advisers generally regard bankruptcy as very much a last resort.  In some cases it is unavoidable but it is not a ‘soft option’ and has many repercussions.  One way of reducing or eliminating your debt could be to sell your home.  This may seem a drastic step, but with sell and rent back agreements you could stay in your home as a tenant rather than an owner.  Make sure you know all the terms of the contract before you sign up to any such scheme, and deal with a reputable company such as Property Rescue.

For information on sell and rent back, contact Property Rescue.  One of their advisers will talk to you in complete confidence and without obligation.