Are you one of the people who are finding it difficult to afford your mortgage payments? It seems many are in the same boat as you – One in six people in the united kingdom are spending a massive 40% or more of their income on housing in the form of rent or home loan repayments .
It would seem that families in the UK are some of the worst off in Europe. This is all as outlined by findings published by the European Union. It was also written about by Shelter, the UK homelessness charity.
Is this becoming your reality?? Are you finding it increasingly difficult to maintain the payments on your house. Maybe, you are facing repossession or you are separated from a partner and you are left trying to make ends meet and support a mortgage as well. I have met those who find themselves having to choose between feeding their children or making the next payment on their house. If this is you, take some time to speak to people like Shelter who will give you some advice on how to address the issues you face or there is the citizen’s advice bureau who will also point you in the right direction for assistance.
Just do not bury your head in the sand. Take some action as soon as you can to deal with the issues you are facing. If necessary, find out how much your house will sell for on the open market as it might cover your mortgage and leave you a little money to start again. This can be a help if you are locked into a high interest mortgage, remortgaging could be another option if your credit rating and income are acceptable to a bank. Do speak to a mortgage advisor.
Of course, it would be remiss of me not to mention that we could help you too, if you decide to sell up and move on. There are various ways that we can assist you in the selling of your property.
Give us a call today on 01384 468336 or text ‘sell’ and your name and address and we will give you a call as soon as possible.
According to this article, Dudley is one of the cheapest places to buy houses in the UK when compared with the salary of those who live in the area. Other areas mentioned in the study seemed to be Birmingham, Wolverhampton and a few other places. So that means three out of the ten places listed as affordable are in the West Midlands region. What does this mean for home sellers? Read the rest of this entry »
So why are banks increasing their standard variable rates when the Bank of England’s Interest rate is on the 3 year record low of 0.3%? It does really beggar belief, don’t you think?
The property market seemed to be getting just a little hopeful this new year and all of a sudden, it seems like it might start to take a battering again. First time buyers may get scared away from buying homes again causing chains to start to fall apart again and then the market gets stagnant…again. People are trapped in their homes and just will not be able to shift it any time soon. Read the rest of this entry »