Dec
16
16/12/2009
The Financial Services Authority (FSA) has published new plans that bring mortgages under closer scrutiny. This has come about in response to the £1.23 trillion residential mortgage market and dizzying effect the financial crisis has had on the UK economy. While some borrowers have ridden out the crisis, thus far, others are scrambling to sell house fast in the face of severe difficulties making mortgage repayments. This could have been far worse with even more homeowners being forced to sell house quick if it were not for historically low interest rates.
Nevertheless, as increasing numbers of homeowners are forced to sell home fast, questions are now being raised about people borrowing far more than they could afford, and that perhaps lenders acted irresponsibly in granting home loans to some current homeowners. Thus, the FSA has reviewed the current mortgage market and put forth suggestions focused on preventing this from happening in the future.
This will certainly affect the mortgage market significantly, making it increasingly difficult to sell house fast, due to a lack of qualified buyers; however, if you need to sell home fast, there are viable options still available. Sell house quick specialists can buy your home for cash in a matter of days, allowing you to avoid paying estate agency fees or valuation fees, and offering the opportunity for you to sell and rent back your home.
For a sell home fast valuation, call Property Rescue on 0800 1313 999 or email sales@propertyrescue.co.uk.