Sell Your Property and Save Your Credit Rating

Safeguarding your credit rating is important if you are to be able to get credit, mortgages or loans of any type.  Even what seems like an insignificant misdemeanour in paying back debt can affect your ratings, such as being late for a payment, but an accumulation of poor payments over a period of time can result in such a low credit rating that it becomes impossible to get the loans you want at the price you want.

Poor credit ratings mean that lots of credit companies and mortgage lenders won’t even consider you for a loan.  Those that do will expect a high rate of interest to compensate for what they see as a ‘risk’ in taking on your debt.  This means that your repayments will be higher or the term of the loan will be longer.  Either way, you end up paying a lot more for the same amount.

You can check your credit rating with companies such as Experian.  It’s well worth doing this to make sure that the facts they hold about you are accurate.  If for any reason they’re not right, contact the credit agency and ask for your information to be updated.  There is information on how to do this on all the major credit rating companies’ websites.

When you are in a situation where debt is mounting up you need to be very aware of how that debt is affecting your credit ratings.  If you continually miss payments you will have a very low rating and at worse you could end up in a situation where you face the threat of repossession on your home and little chance of getting another mortgage, at least not at a realistic cost.

If debt has become a big problem, you might want to consider selling your property to clear your debts and save your credit rating.  If you want to do this you will need to act fast.  Selling via traditional routes is notoriously slow, especially in the current housing market where property prices are starting to fall.  Selling through Property Rescue is fast and hassle free.  They will make an offer for your home which, if you accept, will be formalised and concluded within a few days.  They will complete the necessary paperwork for you and there will be no hidden fees for you to pay once the sale is complete.

Contact Property Rescue to see how much your home is worth.  There is no obligation to proceed if you decided not to, but a super fast sale could clear your debts and save your credit ratings.

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