Housing Crash

Are You Facing Negative Equity?

Fri, 27 Feb 2009 00:00:00 GMT

The dramatic falls in property prices over recent months have left many homeowners in negative equity – in other words, owing more on their mortgage than their property is worth.

The Financial Services Authority certainly agrees that negative equity is a real problem. It states that as many as one in five households could face negative equity by the time the market bottoms out, with an estimated overall fall in prices of 30% from their 2007 peak. These figures mean that some 2.5 million loans will be in excess of the value of the property against which they are secured.

Short term negative equity is not necessarily a huge problem for those who are prepared to stay put and sit out the downturn. There are things that can be done by homeowners to minimise the impact, one of which is to make higher mortgage payments thus paying less interest on the loan overall. In a market where interest rates are low this could be an option for those who have cash to spare. If the market recovers relatively quickly the period of negative equity may be short. There are signs that lenders are starting to ease up on mortgage restrictions, which could get house sales moving again. With strong encouragement from the Government, Northern Rock and RBS/Lloyds Banking Group are increasing the number of mortgages they are making available and the British Bankers Association has reported that mortgage lending increased slightly during January, although to put this into context it was still some 43% down on the previous year.

For homeowners who have to move house or who are having trouble meeting their mortgage repayments the negative equity trap can have serious consequences, compounded by the fact that selling up can be a difficult and lengthy process during which mortgage arrears escalate.

It may seem that the homeowner has little choice in such circumstances other than to allow their home to be repossessed. But repossession is far from an easy way out and should be viewed as a last resort because of its ongoing consequences in terms of future borrowing and effect on personal credit ratings. Far better to sell the home and prevent repossession. But in an almost stagnant market, is this a realistic option?

There remains a certain way to sell your home despite the turmoil in the property and financial markets. Property Rescue will give you a valuation for your home and, if you accept that valuation, will buy your property regardless of its location or the type of home it is. Although no one can improve the current economic situation is it good to know that there is a guaranteed way of selling property in a crisis.

For more information contact Property Rescue. All calls are in complete confidence and without obligation.

UK Property Prices

Fri, 27 Feb 2009 00:00:00 GMT

UK property prices are being driven down by pent-up supply and decreased demand. Since 2007, the UK property market has been struggling. These difficulties are expected to continue through 2009.

The Rightmove House Price Index saw UK residential property prices in May 2008 at an average of about 243,000 pounds decreasing gradually to December 2008 figures of 218,000 pounds.

For 2008, UK house prices have fallen 8.7%. Property researchers and banks have forecast declines of anywhere from 10% to 20% in UK property prices for 2009. The UK property price market remains volatile.

Hometrack's Director of Research Richard Donnell said the following in a December 29, 2008 report: "The onset of recession and the prospect of rising unemployment over 2009 will continue to damp confidence and in turn demand, which will inevitably lead to further house price falls over the next 12 months."

Average UK property prices differ depending on the region. Although, London was initially resistant to the economic downturn, it is now seeing worsening economic conditions compared to the rest of the the United Kingdom.

Some property agents believe that UK property prices have fallen between 15% to 50% from 2007. Property agents are more likely to reduce prices due to increased inventory, as houses remain on the market for nearly twice as long in 2008. There is also an increase in the number of unsold homes that have remained on the market for longer than a year.

The Council of Mortgage Lenders sees increased repossessions possibly up 66% for 2009. This will increase the pressure on UK property prices as more "forced-sale" properties become available.

Some of these property salesmen are shameless. Even contradicting all evidence, they will continue their refrain - "It is always a good time to buy and the property market will always increase" refrain. Don't buy this "bill of goods." What goes up, must come down. Sound common sense must always drive business decisions trumping marketing rhetoric.

The credit crunch will debilitate those with questionable credit ratings. Those with good credit and available liquidity should leverage their position to find a great deal. Many property bargains are available as UK property prices fall.

There should be many deals out there for the enterprising. Buyers need to know that they have the advantage. They should be able to negotiate better deals.

Over time, property builders will reduce the supply by cutting production on new property development. Gradually, supply will be diminished in order to better match demand. Timing is very important as the bottom of the UK property market is uncertain.

It is nearly impossible to properly time the exact bottom of a market. UK property prices are expected to continue to fall in 2009. The wise investor should use this knowledge to find the best deal out there.

Housing Prices Crash - The UK Property Market

Wed, 25 Feb 2009 00:00:00 GMT

The current condition of the UK property market has certainly raised eyebrows among the top industry analysts. After substantiating itself in the preceding years, UK home prices have taken a deep plunge after 2007. The decline has continued unabated for almost two years. New surveys conducted by Halifax and Nationwide have reveled that the property market has receded by almost 15 percent to 20 percent since the autumn of 2007.

Looking into the Future

Amid growing concerns over the global financial crises, it seems that this downfall might continue to drive the prices lower, even in the next year. How much lower is anyone’s guess but looking at the recent trends, majority thinks that the UK property market will continue to shed its current price by another 15 percent. This 15 percent decline in the year 2009 amounts to a drop of nearly 30 to 35 percent which is nearly 70 percent lower than the highest property values in this decade.

The average cost of a typical English house is £224,064 with total sales of 138,487 properties in this quarter. London and its adjacent boroughs have faced the brunt of the pressure where properties have plummeted to 10 percent since the last year. Yorkshire and Humberside are close behind with 6.5 percent and 6.6 percent declines in the last twelve months, respectively.

Why the decline?

The falling property prices are due to the growing job loss which has promoted house owners to sell their homes. Banks and other financial institutions have acted accordingly by further tightening the lending rules and squeezing the supply of money for the potential buyers, resulting in less demand for new homes. Responding to the situation, existing home owners are waiting for the prices to freeze as they are unwilling to sell at a loss. It is estimated that the average household moving is now almost, once in 31 years, in this decade which is double the time period from the preceding decade. Add to the shortage of buyers, new regulations by the property agents have made it a little harder to complete the purchase process which can take up to three months, double the time during the price boom in 2007.

Efforts by the UK government

The Bank of England and the government are trying to mitigate the crisis by cutting the interest rates, decreasing the LIBOR rates and keeping a well balanced credit supply. Such policies along with the recent gains in the financials of Nationwide by almost £1.5 billion is pointing towards the fluidity of the market and easing up of mortgage. One thing is for sure! There are still many people who are willing to cash on the recent slump by borrowing the houses and then expecting to raise a profit, later on. This human greed along with the efforts of British government, the recession may end sooner then expected.

When will it end?

The big question remains; When will the property market blossom once gain? Leading bankers predict that the property market will certainly get a much needed revival by the mid of 2009. It is during this period that people will likely see an increase in home sales. For more a circumspect figure by leading analysts, the UK property is likely to regain in the initial months of 2010.

Should I Sell To Rent?

Thu, 20 Nov 2008 00:00:00 GMT

With the property boom having come to a grinding halt, there has been a continual decline in inflated prices. From Newcastle to Manchester, and Birmingham to London, it seems no-one is clear from this slump.

Rumours have been circulating for a while now over the prospect of either selling your property to rent it back, or selling to move in to rented accommodation.

With the property market fluctuating, it seems smart to sell when the market is riding a wave, and buy once this boom has crashed. However, this takes serious knowledge of the property market and strong forecasting. Something perhaps better left to the experts.

This is because; you have to take in to account, the cost of moving (transportation / fees, etc) and the monthly rental fee. It is normally the case that a mortgage payment is lower than a rental payment, not to mention the fact that property prices will have to drop a reported 4% to make selling and renting worthwhile.

The gains from selling to rent can be huge, and have proven to save buyers around 30%. How? As the market has begun to fall, house owners have sold their property, moved in to rented accommodation, only to emerge back on the property ladder a few months later at a ‘discounted’ rate of around 30%.

Genius. Well it can be. The market can be futile, and unpredictable. For all the ups and downs we are subject to, property is genuinely a sound investment in the long term. Sit there long enough and you should be seeing a handsome profit. Nonetheless, I think we would all be happier if there were a way to lower our mortgage, move in to a bigger property, or simply increase the figure in the bank.

Selling and renting is building up quite a reputation for itself, and rightly so. There are however, some pitfalls of which you must be aware. Renting normally requires signing a minimum 6-month contract. If the market does suddenly rise, you may be a few months behind watching prices rise whilst you are contracted to rented accommodation. Naturally if you have the means to support both payments, then you could always rent whilst looking for a ‘bargain’ knowing that once one comes along, the deposit is happily waiting for you in your bank account.

Not only this, but we never truly know how long the slump will last, or whether it is actually a slump or just a slow down. As a result of this, it is important to understand the elements before subjecting yourself to them.

Buying and selling property involves a major decision, and for many of us it will be the biggest decision we ever make. If you see moving as an annoyance, and are not particularly optimistic about property prices, then perhaps think of other solutions – if you can find one. But, if you don’t mind the thought of moving twice, and have a view about where the property market will go, then perhaps selling and renting is for you.

UK Recession is real

Fri, 24 Oct 2008 00:00:00 GMT

In a speech given on Tuesday 21 October in Leeds, the governor of the Bank of England, Mervyn King, admitted that the likelihood of recession in the UK was real and that the downturn could be ‘prolonged’. Hot on his heels came the Prime Minister admitting in Parliament that recession was around the corner.

This could hardly have come as a surprise to anyone who has read the papers, watched the news or observed the downward spiralling of global economies over the past few weeks, yet the markets reacted the morning after Mr King’s speech with a tumble. One does not doubt the validity of his warning but wonders whether spelling out the impending doom was justified. After all, anyone unaware of impending recession must have been visiting from a far away planet! It all begs the question of whether those in the know are talking a bad situation into a worse one.

There is just a glimmer of light, however, peeping through the darkness of the very long tunnel of home ownership. The Bank of England reduced interest rates by half of one per cent earlier this month and some pundits think that that another cut will be necessary if Mr King’s warnings about controlling inflation are to be heeded. Lenders have already responded to the initial cut and are likely to feel pressure to cut mortgage interest rates further should there be another cut in Bank rates.

Meanwhile, back in the long dark tunnel, the numbers of people entering negative equity are rising fast. There is no end in sight to the fall in house prices, leaving some of those who have purchased recently in the worrying situation of knowing that their loan is more than the worth of their home.; all a grim reminder of the last property crash in the early 1990s. Currently it is estimated that around 60,000 home owners are entering negative equity every month.

If you are in that situation, you may be content to wait for stabilisation of the property market. If cyclical trends are to be believed, property is likely to recover some, if not all, of its value over time. For many, sitting tight could be the best option.

But not everyone has the luxury of choice. If you need to sell up because of rising debts or inability to meet your mortgage repayments, give Property Rescue a call and ask about their guaranteed valuation service. Initial consultation with one of their experts is free and entirely without obligation. They will not pressure you into proceeding and will not pester you with phone calls should you decide not to go ahead. In a market where almost nothing is moving, it is still possible to sell your home. Call Property Rescue for an informal chat and more details.

Steep fall in house prices

Thu, 02 Oct 2008 00:00:00 GMT

Figures just released show that house prices fell at a record level during the past year. From October 2007 prices are down 12.4%, bringing the average house price to around £162,000 and cutting a massive £20,000 off last year’s value.

This is the 11th consecutive month that prices have dropped, with Northern Ireland and East Anglia being particularly hard hit. The only place that has bucked the trend is the city of Durham, where prices have actually shown a slight increase.

Although home owners may be distressed about the cut in value of their property, in theory the fall should be good news for first time buyers who have previously been unable to get on the housing ladder. But the downward trend is making such buyers nervous as they wonder how much further prices will fall and, understandably, are showing reluctance to expose themselves to the threat of negative equity. More importantly, the credit crunch and the crisis in the banking system means that mortgages are hard to get; a factor that looks unlikely to be resolved in the short term.

Commentators are pessimistic about the outlook over the next 12 months, many predicting that property will continue its decline in value. Some see the fall being halted at the end of 2009 and a gradual increase happening over the following two to three years. At present, the US economy and the world financial situation is so volatile that any forecasts must surely be taken with a pinch of salt.

Is it impossible therefore to sell your house? The lack of first time buyers, the instability and nervousness of the market and the wider economic issues all combine to put people off moving house. There are some, however, that have no choice other than to move, perhaps through work relocation, family reasons or personal debt. Estate agents are advising that people need to be very realistic in their pricing if their house is to attract the few buyers out there. They add that sensible vendors will make sure surveys don’t throw up any nasty surprises, and advise that properties need to be presented in the best possible way.

If you need to sell quickly for whatever reason, there is an alternative to the open market. Selling your home through Property Rescue gives a number of advantages, including a fast secure sale, ‘paid for’ solicitors fees on the sale, no requirement for a Home Information Pack, and a guarantee that Property Rescue will make an offer for your home.

For information about how to sell property in a volatile market, call Property Rescue today. Their advice is free and entirely without obligation.

The Divorce Trap

Thu, 18 Sep 2008 00:00:00 GMT

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.

Government Intervention - Too Little Too Late?

Mon, 08 Sep 2008 00:00:00 GMT

This week the government has announced a £1bn package of measures designed to help homeowners through the current financial crisis. Whilst everyone must surely welcome this news, the question as to whether it will go any way towards resolving the stagnant housing market remains unanswered.

In brief, the measures include:

raising the threshold at which stamp duty becomes payable on property purchase from £125,000 to £175,000 – effective immediately
more government help with mortgage interest payments for those on income support or claiming job seekers allowance, plus a reduction in the length of time such people have to wait before they’re entitled to this help (a reduction from 39 weeks to 13 weeks)
raising the threshold of the loan value on which people on income support and job seekers allowance can get help with interest payments – up by £75,000 to £175,000
£200m into a scheme whereby ‘social landlords’, such as councils and housing associations, will help homeowners who get into difficulties – perhaps through part ownership or additional lending

Some first time buyers who have been putting off the purchase of their first home may be persuaded that this is now a good time to enter the market. If this happens it could provide a kick start to the bottom property tier and help those in existing chains to complete. However, there is scepticism over the effectiveness of these measures because none of them address the issue of money supply, which has been at the heart of the credit crunch The number of mortgages being approved has fallen by more than 70% over the past year – a trend that is expected to continue. Without funds available for first time buyers and others, the housing market seems doomed to remain in its current state of malaise.

Interest rates were held at 5% by the Bank of England at its meeting on 4 September – the fifth month in a row that rates have remained static as the Bank struggle to contain rising inflation. The threat of a recession could, however, mean that the Monetary Policy Committee elect to reduce interest rates very soon in an attempt to buoy up a flagging economy.

Homeowners in debt should study these new measures carefully. Some could find that the help on offer from the government is enough to see them through current difficulties, but inevitably there will be those for whom the situation is too dire or the financial problems too deep. If you are facing the possibility of losing your home, talk to Property Rescue about their guarantee to buy your property. Their service could allow you to stay in your home, rescue your credit rating and get through the hard times ahead. Contact them for an informal chat without any obligation.

Struggling home-owners should sell equity to avoid repossession, say Lib Dems

Wed, 03 Sep 2008 00:00:00 GMT

Homeowners struggling to pay their mortgages should be able to sell part of the equity in their homes to avoid repossession, the Liberal Democrats have said.

James Kirkup, Political Correspondent, The Guardian

The equity sale scheme is part of a package of measures drawn up by Vince Cable, the party's Treasury spokesman, to meet what he says is the urgent need to avoid thousands of families losing their homes.

A slowing economy and rising mortgage costs are putting growing pressure on millions of homeowners.

Figures earlier this month showed that the number of repossession orders made by courts in the second quarter of 2008 jumped by 24 per cent. A total of 28,658 orders were made in England and Wales between April and June.

Mortgage-holders struggling with their repayments should be able to sell all or part of the equity in their house and rent it back from housing associations or even private companies, Dr Cable has proposed.

The Liberal Democrats also say that courts should be given new guidance to ensure that they only order homes to be repossessed "in extreme circumstances".

Councils and housing associations should also be allowed to borrow money from commercial lenders and use it to buy land and empty homes for use as social housing.

Dr Cable outlined his plans as ministers complete their own economic assistance package, expected to be published as early as next week.

The Treasury is known to be considering a stamp duty "holiday" in the hope of stimulating the housing market.

Dr Cable said that showed ministers are missing the point.

He said: "The Government seems obsessed with fighting a losing battle to artificially prop up the housing market, rather than finding ways to deal with its worst effects.

"Ministers must act to help the thousands of families struggling to keep a roof over their heads.

Source of Article: http://www.telegraph.co.uk/news/newstopics/politics/liberaldemocrats/2632080/Struggling-home-owners-should-sell-equity-to-avoid-repossession-say-Lib-Dems.html

Mortgage Lending Drops to New Low

Mon, 28 Jul 2008 00:00:00 GMT

Figures released this week show that new mortgage approvals fell in June to a new low. Successful mortgage applications were down a staggering 23 per cent from May according to statistics released by the British Bankers’ Association (BBA), who say this is the lowest number of mortgages approved in any single month since their records began back in 1997.

You may have a feeling of déjà vu when you hear warnings from the BBA about the state of the housing market. Their forecast echoes that of the Council of Mortgage Lenders in predicting that this year is likely to see the worst fall in property prices since the early 1990s. Whilst some argue that this is purely a levelling off of an over-inflated housing sector, the impact it is likely to have on those who have just entered the market is likely to be severe.

Negative equity may become an issue if house prices continue their downward spiral. This is particularly true for those who have recently taken mortgages of 100% or more against the cost of their home. Lenders are adopting a much more cautious approach now, but we only have to look a few months back to find a very different attitude.

Of the mortgages secured in June, only 19% were for buying homes; the remainder were re-mortgages on existing property. The fact that new buyers are not entering the market will send ripples upwards and outwards to anyone who wants to sell, making the market even more stagnant than it already is.

Falling prices, negative equity and low mortgage lending all add fuel to the argument that the housing crisis is likely to take some time to resolve. The more optimistic commentators are talking about the end of 2009 before the situation improves, but others are thinking much further ahead. For those who need to sell rather than want to sell, this equals bad news. Property is simply not shifting off the estate agents books, causing some agents to even go out of business.

If you need to sell your house fast there is an avenue by which you can do so. Property Rescue makes a guaranteed offer for your home and, if you accept that offer, the sale can be tied up within a matter of days or weeks. The benefits to you are that you have a certain sale, you will not be subject to your buyer pulling out further down the line, you will be able to move on and, perhaps, benefit from falling house prices by becoming a cash buyer.

Property Rescue promises never to push you into action that you don’t want to take, nor to proceed until you have all the information you require. For more details, contact one of their property experts and start the ball rolling towards that elusive sale.

Is Renting The Best Option?

Wed, 17 Oct 2007 00:00:00 GMT

Early October saw the publication of a survey that announced renting is now a cheaper option than buying!

The survey looked at rentals from private landlords during 2006 (i.e. not including local authority or housing association tenancies) and found that for an average two to three bedroom house the rental costs would work out to be less than the cost of a 100% mortgage. This is the first time for many years that renting a property has been considered more financially advantageous than buying; in the past renting has always been seen as the more expensive option.

With the recent rapid increase in house prices, some areas having seen a three-fold rise since 1994, 100% mortgages (or close to 100%) have been put out of the reach of many on lower or even average earnings. But during this same time period the costs of renting have remained quite stable, partly influenced by of the number of ‘buy to let’ properties that have come to the marketing through new investors keen to make money from the property boom.

With property prices around five times the average first-time buyer’s income, it’s not difficult to see why rentals are enjoying a resurgence in popularity. If you find yourself in a position where your mortgage is draining your finances, or you are in arrears with your lender, why not consider the option of selling your home and renting it back? This solution allows you to remain in your home, but as a tenant rather than a homeowner, and enjoy all the rights that tenants normally have in privately rented properties.

Talk to Property Rescue about how this scheme works. All discussions are in strict confidence and you won’t be put under any obligation to proceed if you decide that sell and rent back isn’t for you.

Property Crash Talk On The High Street

Fri, 05 Oct 2007 00:00:00 GMT

There has been so much media speculation this year about a forthcoming UK property crash that you couldn’t be blamed for switching to a different channel every time a commentator comes on the box.

The Bank of England has, to date, failed to respond to pressure to cut rates and decided at its meeting on 4 October to keep interest rates unchanged at 5.75%. For home owners, the rises that have taken place during 2007 have increased their mortgage repayments dramatically – a good reason, say some experts, to look at cutting interest rates before we reach economic meltdown and the market crashes.

But is it just those with high mortgages that are feeling the pressure and will the market crash? Obviously, the higher your loan the more impact the interest rate rises will have had. But what tends to hit the media are stories about first time buyers on very stretched incomes or those who have taken out enormous loans, well out of the reach of most. That leaves a vast gap in the middle consisting of the ‘average’ home-buyer, if there is such a thing. These people have suffered in silence, absorbing the rate increases and making the necessary cut-backs. If there were to be a crash – and the financial analysts are far from agreed as to whether that will happen, in any shape or form – anyone with a high mortgage could be left in a negative equity situation.

Everyone has a breaking point in their budget, a fact that hasn’t escaped the notice of Property Rescue. If you are facing a situation where you are continually building up debt secured against your home, you have arrears on your mortgage repayments, or are simply in an overstretched financial situation, give them a call to discuss the options. Everything is done in complete confidence and there’s no obligation to proceed.

Volatile Shares Send Shivers Through Housing Market

Wed, 22 Aug 2007 00:00:00 GMT

Stockbrokers the world over have had a scary ride over the past week or so. The effects of events in the US have been felt around the globe and have sent jitters through the UK housing market in case what’s happened in America were to be replicated here.

Property lenders in the US have, it seems, been less than careful about the credit history of those to whom they grant loans. Consequently when many of these people have defaulted on payments the loan companies have felt the effect. The reason for the global ripple is that it is hard to identify where these loans are actually sourced because of the way in which loan companies borrow extensively from each other.

It might be difficult to relate what’s happening in the US to our own property market, but some commentators have questioned whether a similar cause and effect reaction could take place here. Whatever happens, it now seems clear that although property prices remain on the up, the increase is slowing substantially. Could the recent share market volatility lead to UK lenders being just that little bit more strict about ensuring they only lend to people who are the ‘least risk’?

If that were to be the case it would be all the more important to avoid having your home repossessed and incurring County Court Judgments through personal debt. Property Rescue can eliminate the threat of repossession through its buy and rent back scheme, and can even help you deal with credit card debts at the same time.

If you are already someone who has a bad credit history you will know how much impact that can have on your life. If your credit history is currently unblemished, then you would be well advised to do your utmost to keep it that way. Property Rescue guarantee to buy your home and help solve your debt problems, no matter what has happened in the past. Contact them for a free valuation and the opportunity to get rid of your debt and worry. All calls are in strict confidence and with no obligation whatsoever.

Housing Crash?

Fri, 16 Mar 2007 00:00:00 GMT

This week the financial news has been dominated by talk of a US housing price crash and the difficulty that poses to Americans who have taken out equity against the price of their homes. Not a problem in a market that is rising, but a very different story when property prices are tumbling.

But what does that have to do with the UK economy, which most financial forecasters see as buoyant? Perhaps the most obvious impact is that when American consumers don’t have as much money in their pockets the rest of the world starts to sit up and take notice. Whether the housing crash will spread to the UK is hotly contested by those in the know, but it is an undeniable fact that property prices in some areas of the country are seeing a definite slow-down.

What many people forget is that the price in the estate agent’s window is seldom the price that was finally achieved for the property, and in some cases the figures are not even close. It’s easy to look down a street of houses and set a price for your own house based on what your neighbour is asking, but if your property doesn’t sell you’ll be facing a dilemma.

Property Rescue offers a guaranteed sale of your property within a short space of time….sometimes just days. The price that is offered will be a below what you were asking, but against that fact are the benefits of moving quickly, having a guaranteed sale, and knowing exactly what you will get for your house instead of entering into a stressful series of negotiations. And in an uncertain market place, that’s worth a great deal!