If you can only see a dark, debt-ridden tunnel ahead, you may be tempted to sell your house to a genuine cash buyer like House Buyer Bureau.
It's impossible to switch on the news these days without hearing another story of economic doom: rising rates, escalating unemployment, increasing repossessions...But if you're one of the statistics that make up the grey cloud of bad news, there are still options available to you. Sell house for cash schemes can provide some people with a lump sum of cash and an opportunity to escape the chains of the property market.
Sell my House for Cash!
Selling your house for cash and leaping off the housing ladder sounds incredibly tempting for thousands of homeowners who feel like they're on a treadmill of debt. But it's important you research the quick house sale schemes thoroughly and get objective advice. There are schemes that offer a fair price, but of course all sell house for cash schemes will mean you may receive less than you could achieve on the open market. The upside is there are often no legal fees, no long month's of waiting or stagnating indefinitely on the property market. For some homeowners in diabolical debt, the idea of selling a house for cash fast could mean saving money in the long run by offering them the opportunity to pay off expensive debts quickly.
The High Cost of Mortgage Debt
Being in debt has never been so expensive. Before the credit crunch, it was easy to get loans, remortgage or release cash from a property to help meet cash flow problems. But the days of cheap loans are long gone. Even first time buyers are finding it hard to get a competitive loan or mortgage. It seems borrowers are still paying for the lenders' mistakes of the 90s, when they practically threw money at their customers, regardless of the creditworthiness. And now those seeking a mortgage face an average fixed rate of 5.18% over two years, despite base rate remaining low at 0.5%. It isn't surprising that more people are choosing to get off the property ladder completely to salvage their finances until the economy begins to look healthier.
Sell Property for Cash
But there are those who desperately need to sell their homes quickly. Unfortunately, the majority of those do so because of financial necessity, although some look for a quick house cash sale because of a change of personal circumstances, such as a job relocation or emigration. And considering the state of the UK economy, it wouldn't be surprising if more homeowners ditched the system and opted to backpack around the world or downsize to a rural idyll with the cash they sell their homes for.