Property News Blog

Equity Fast – Buying Your Home

September 15, 2010

Equity Fast are a leader when it comes to quickly selling houses and taking the complications out of land purchases with access to substantial funds and over a decade of experience in fast property purchases.

If you need to sell your home quickly, for whatever reason, including repossession threats or worries, Equity Fast are always there to offer you a high level of service you will struggle to find elsewhere, including a rapid turn around and a confidential handling of your case.

By avoiding repossession you will help to maintain your credit rating, and this is a key factor in getting back control of your finances. Acting quickly can prevent the situation running out of control.

Equity Fast will even cover your legal costs for the sale transaction, so there are absolutely no fees taken from the purchase price we have agreed for your property.

And don’t forget, after the twelve month rent free period you can either -

  • Remain in your home and rent from them – the ideal option as this means you can keep your home and lose the worry of being repossessed.
  • Buy the property back from them – another top solution from Equity Fast, they will get you out of trouble and will then sell your home back when you are back on your feet financially
  • Buy a cheaper property through them in the same location, where available

What ever your reason for needing to sell your home quickly, Equity Fast are there to deliver the results you need, and will respond to all enquiries with an offer within at least 24 hours of the first phone call or email enquiry.

The price they offer is the price you get. They understand that each property seller has their own reasons for selling their home and their requirements are practically unlimited. They buy houses, flats and apartments for cash both new and old, in any condition and in any area, as well as land with or without planning consent.

So, if you need to sell your home quickly, ring 0800 012 28 29 now or visit the website – http://www.equityfast.co.uk/

Struggling To Pay Your Mortgage?

September 15, 2010

Struggling to pay your mortgage is one of the most difficult situations you will probably ever find yourself in. Sometimes, the pressure this can cause is immense and affects all of the family and can leave you in a pit of despair and worry, something that no one wants to go through.

The first thing you have to do is speak to your mortgage lender. This is vital and has to be the first thing you do if you are finding it a struggle to meet repayments or you believe that you are going to struggle to meet the next repayment. Most lenders will welcome the fact you have informed them of the situation and will try their best to work out a path forward. You have to remember that it is in the interest of the lender to keep you in your home as it costs money to repossess someone and it will also probably not be likely to get the full borrowing amount back on the property if they have to sell at an auction.

You then need to really sit down and work out your options. If you know that you are not going to be able to meet the repayments in the short term, maybe due to sickness or a temporary cash flow issues, you might want to speak to the bank or a family member to see if you can borrow some money. It is important that you only do this if you feel the situation is temporary as you can not keep borrowing money for ever and you will only get yourself deeper and deeper into debt.

Some mortgage lenders might offer you a “repayment holiday” if you have been with them long enough, ranging from a month to a few months where you do not have to pay your mortgage, it just extends the length of the loan. This is something you need to raise with your lender and ask the question, although it is much more difficult to get repayment holidays now than it used to be.

If you feel that the problem is going to be a long term one, you really need to carefully assess your options.

You may decide you want to sell, which of course has to be your last case scenario as it will mean losing your house, but at least you will be able to repay the mortgage in full and start afresh somewhere else.

You can also ask your mortgage lender for consent to let, which means you can you let your home out to a tenant, officially, for anywhere up to two years. This can be a win win situation because you get to keep your house and at the same time you have a tenant paying your mortgage. You really must seek permission before you do this and let your lender know, because if you rent the house out behind their backs, this will be against the terms and conditions of the mortgage which they can choose to cancel at any time.

The Stages Of Repossession

September 15, 2010

Anybody that has faced repossession or is facing repossession will know that this is a terrifying time for all of those involved, especially if you have a young family and have no one to turn to if all else fails.

Many people thing that repossession happens quickly and doesn’t follow any order or logic, but legally, there is a set procedure that must happen. If the correct procedure is not followed by all involved, then this will mean that it has not be done in the right manner and you might have a chance to appeal against any proceedings.

The steps of repossession usually follow the path below:

Most mortgage lenders will try to contact you and sort things out before you even come close to repossession. It is in their interest to try and keep you in the property and paying the mortgage, as normally they will not make as much as the property is worth if it were to go to auction. If you are finding difficulty in paying the mortgage, you must make sure that you inform your lender immediately, as most will try to help you and if you tell them first, this goes in your favour.

Should you not be able to communicate with the mortgage lender efficiently, they will then apply for possession from the court, and the court will then write to you with your date for the hearing. In most cases you will be given around 21 days to prepare for court, so the date will normally be 21 days after you receive the letter from the court. A form will be enclosed which will explain the reasons that your mortgage lender has applied for possession of your property.

They will also send you a form which you can use to raise a defence against the claim for possession, which is the opportunity for you to explain why you got into difficulty, the reasons behind not being able to pay your mortgage and any other circumstance that might have lead to you being in the current situation that you are in. Make sure you keep copies of every thing and you must try your hardest to get this form back to the court as quickly as possible, as once again, if you communicate openly and efficiently this will all be taken into consideration.

You will then attend the court hearing, it’s vital that you do, and you will then be able to offer your case to the judge in charge of the hearing.

Equity Fast Buy Houses And Land

September 15, 2010

Equity Fast are a leader when it comes to quick house sales and land purchases with access to substantial funds and over a decade of experience in fast property purchases. If you need to sell your home quickly, for whatever reason, Equity Fast are here to offer you a level of service you will struggle to find elsewhere, including a rapid turn around and a confidential handling of your case.

There are many reasons why you may wish to sell your home, but whatever the reason we have a solution to suit you. We are sensitive to your circumstances and we work within your timescale and propose an offer to meet your needs. You can rest assured that everything is treated in the strictest confidence, as no matter why you need to sell your property quickly, every case is treated with confidence and professional advice.

So, why would you want to sell your home to Equity Fast?

  • You may have had your property on the market with Estate Agents and endured time wasters
  • Sold your house only for the buyers to pull out or maybe not had any viewing’s at all!
  • Perhaps you’ve found your dream home but are about to lose it because your property has not sold.
  • Or maybe you are just looking for an established and reliable company to buy your house and give you some financial freedom.

What ever your reason for needing to sell your home quickly, Equity Fast are there to deliver the results you need, and will respond to all enquiries with an offer within at least 24 hours of the first phone call or email enquiry. The price we offer is the price you get. They understand that each property seller has their own reasons for selling their home and our requirements are practically unlimited. They buy houses, flats and apartments for cash both new and old, in any condition and in any area, as well as land with or without planning consent.

They specialise in quick house sales for cash, so there may be no reason for you to invest in a HIP (Home Information Pack), but if for whatever reason you need one, Equity Fast will be ready to pay for it, using a company who will turn around the pack with a level of efficiency and speed you need if you are looking to sell your home quickly and without any of the usual hassle that comes with selling your home. They also take care of all associated costs including paying your legal fees, and remember because they are not an Estate Agent, you will be saving on fees which can be anywhere from 1- 3% of the sale price of your property!

And we will do the job quick, guaranteed!

What To Do If You Are Facing Repossession

September 15, 2010

With the credit crunch seemingly over and the UK heading out of a recession, it doesn’t just mean that peoples money worries have majestically disappeared, there are still millions of people facing the real threat of repossession. If you are facing losing your home our you think that there is a chance that you might not be able to afford your mortgage repayments for much longer, it is important you act now and start taking steps and actions to avoid this.

Below are the logical steps you need to take if you think you are facing losing your home. You do have to act fast to avoid the problem and can not afford to ignore it, so act now and try to save your home.

Speak To Your Lender – The first thing you really have to do if you are facing repossession or are struggling to make your mortgage repayments, is to speak to your lender. Most lenders will do everything in their power to allow you to stay in your property and find a way of helping you to repay your mortgage, even if it means looking at the payment levels or the amount you pay per month. Repossession for all lenders is a last resort and therefore by speaking to your lender the moment you think or find that you are struggling is the best thing you should do. If you ignore the problem, it will just escalate and you will find the lender will have difficulties in helping you, as if they are not told you have issues, it will not reflect very well upon you.

Meet With The CAB – The Citizens Advice Bureau, or the CAB, are in place to help you, no matter what the problem is. Most towns and cities have a CAB, although some are open short hours and some recommend you have an appointment before attending. The advisors are independent and are there to offer you advice and although they might not be able to help you keep your home, they will suggest things you need to be doing in case this happens, or hopefully try to find solutions to stop the situation occurring. All advice is free and you have access to a large pool of knowledge, so even if they can only offer some sound advice, it is well worth you taking some time to speak to them.

Review Your Finances – You really have to sit down and look at every bank statement, bill and outgoing commitment you have, because the likelihood is you can start to save a little bit of money which might help you meet some kind of repayment. If you can go to your lender and explain how you are cutting your outgoings to try and start making better payments, they are likely to listen to you and hopefully be a bit more sympathetic to your situation. Even if you can only save £100 a month from cutting things like premium TV or other unnecessary expenditure, this is another £100 that can go onto your mortgage, which will at least look good for you if it comes to facing repossession.

Rent Out Your Home – If you have somewhere else you could live for a bit, maybe your parents or your friends, consider renting out your home for a year. Most mortgage lenders offer something called a Consent To Let, which will allow you to rent out your home but not have to switch to a buy to let or similar product. If you can charge more rent than your mortgage currently is, not only will you be able to meet your repayments, you will also be able to save a little bit of money ready to move back into your home, when you are slightly more secure.

Consider Selling Your Home – The final option you will have is to sell your home before you have it taken from you. Fast Cash Sales firms and Equity Release companies are ready to purchase your home and relieve you from the pressure of facing repossession. Although this is the last step, almost the ultimate step, if you can avoid repossession and therefore ruining your credit rating for years to come, it is well worth selling your home, starting again and moving onto a hassle free existence for a few years.

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