Posted May 21st, 2009 by admin
The Government is offering some hope for victims of ‘sale and rent back’ scheme.
We revealed how tenants who sold their homes to a string of companies, includingHome Assured, North East Property Buyers and Freedom Property, have ended up forced out of their homes when their landlord is repossessed for not keeping up mortgage payments.
Margaret Beckett has announced plans to give tenants at least two months’ notice in such situations. Currently they could be forced to move within two weeks or less of a repossesssion order going through. Mrs Beckett said:
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Some protection for ‘sale and rent back’ victims
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Posted May 20th, 2009 by admin
Due to house repossessions or bank foreclosures in Scotland, it is easy to lose your house and home. There are many people who don’t wish to lose their home but find themselves in a situation outside their control. This is where a sell and rent back scotland option can work well.
Posted May 18th, 2009 by admin
This is where companies offer to buy your house at a discounted rate but promise to let you stay there as a tenant.
For those struggling to meet mortgage payments or facing repossession, this might seem attractive, particularly as these companies offer quick sales. There are many genuine sale and rent back schemes but some cowboys are taking advantage of vulnerable consumers.
They might promise that you can stay indefinitely in the property but then give you only a standard six-month tenancy agreement. They might promise that rent won’t go up but then increase it by a large amount once the initial period is up. Or they might charge you a large fee upfront, and then disappear.
Posted May 17th, 2009 by admin
The number of homes repossessed in the UK rose to 12,800 in the first three months of the year, the Council of Mortgage Lenders (CML) has said.
This was up 23% from the 10,400 in the previous three months and 50% up on the 8,500 in the same period last year.
The CML has predicted that 75,000 homes will be repossessed in 2009, almost double the 40,000 of last year.
But the group has now described this prediction as “pessimistic” and could change its view in the summer.
Posted May 17th, 2009 by admin
People may need to sell their home for many reasons, such as some unexpected turn of life or the need to move to a new area. Everyone gets stressed when selling their home. Sometimes they need to sell their home quickly otherwise homeowners can become burdened with two separate mortgages.
When you are selling a house you should keep in mind some important factors such as price, condition of home and publicity. Here are some tips how to prepare your home for the market and sell it quickly.
Fix your Price
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Tips on how to make your house sell quickly in a poor market
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Posted May 11th, 2009 by admin
In the current housing and economic downturn, there appear to be too many sellers with too few buyers. Due to lesser demand, it is literally impossible to sell your home in short period of time. But, if you can not wait due to financial pressures, there is the option of quick sale to one of the many several companies who offer to buy your home in this situation.
The best thing about this particular option is that you can actually sell it to rent back. This is basically known as sell and rent back, which is still a relatively newer concept but flourishing quickly in the current market conditions.
