Property Rescue Blog

With The Nationwide now offering 125% mortgages to certain customers who have negative equity on their homes - i.e., who owe more than what their home is worth - it looks like some will be receiving much-needed assistance in these worrisome economic times.

With news that the Bank of England will be holding the interest rate at 0.5% for an additional month - and that it would hold off on increasing its quantitative easing of the economy by not printing money to buy bonds - people who were hoping that the economy was turning around are sure to be disappointed.

A troubling new UK BBC survey reports that 2 out of 3 people in the UK know someone who has lost their job during this difficult recession, and that four in ten are afraid of losing their own job.

Sell Home Fast through Property Rescue and enjoy no nonsence advice and helpful staff.  Infact we pride ourselves on our approach and have answered some of our most popular Sell House Fast questions.

The latest house sale survey from the Royal Institute of Chartered Surveyors claims "no sustained upturn in fast home sales will happen until more mortgages become available"  Following small signs of recovery for those seeking to sell home fast, it is no doubt a blow. 

Recent news about the Land Registry putting up its fees for the first time since 1993 is bringing even more disappointment and stress to people looking to sell home fast.

A brand new report from PricewaterhouseCoopers (PwC) states that the current economic downturn shows no signs of abating as 5,483 firms have become insolvent during the first quarter of 2009; compared with the same period last year, this is a 57% increase.

According to Moneyfacts, there has been a large jump in the cost of fixed rate mortgages to brand new borrowers; interest rates for a two-year deal have increased by 0.16% to 4.9%. Five year fixed rate mortgages have gone up by 0.21% to 5.82%.

The CML (Council of Mortgage Lenders) has announced that mortgage lending in May was 2% lower than in April - at approximately £10.3bn - and 58% lower than May 2008.

As further evidence showing that the UK is hardly alone in the current economic crisis, reports indicate that home prices around the world have dropped in the first quarter of 2009.