Jun
14
14/06/2010
Both new and current borrowers are seeing higher interest rates on mortgages as of 1 June 2010. Borrowers who acquired mortgages with Lloyds TSB and Cheltenham & Gloucester prior to this date and are paying a standard variable rate of 2% over bank rate (2.5%) will see their rate increase if they switch deals or when their initial deal expires. As of 1 June, these current borrowers and new borrowers will see a standard variable rate that has no ceiling and is currently at 3.99%.
This will, naturally, have a knock on effect on the mortgage market and will make it more difficult to sell house fast for want of buyers. If you need to sell your home quickly for cash, you might consider the assistance of a sell to rent back company. These sell and rent back companies can purchase your property for cash and will allow you to remain as a tenant if you choose a sell rent back deal. Property Rescue is one of these sell to rent back companies and can exchange in just 48 hours. When you sell and rent back with Property Rescue, you also avoid paying estate agency and valuation fees. This makes sell to rent back an attractive option for many homeowners looking to sell rent back and get cash out of their home.
For a quick house sale valuation, call Property Rescue on 0800 1313 999 or email them sales@propertyrescue.co.uk. You will obtain a sell home fast response extremely quickly.