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Archive for June, 2011

Thursday, June 30, 2011 @ 11:06 AMadmin

Whilst inflation rose by 4.7% over the last year, earnings of the over 55’s only increased by 0.65% according to Aviva’s Real Retirement Report.  These figures are threatening retirement plans for many of these people, many are choosing to sell house quickly to deal with the new shortfall to their incomes.

Aviva’s report has shown that 73% of over 55’s are worried about the increase to the cost of living and that many of them are increasing their savings to try to deal with the situation.

Worst affected are the 75’s and over who’s average monthly income has fallen from £1,416 to £1,178 over the year.  21% of over 75’s survive on an income of less than £750 with average debt standing at £17,112.

Clive Bolton, of Aviva said: “The sixth Real Retirement Report has found the over-55s under pressure from the rising cost of living. While incomes have increased slightly, this has been negated by adjusted inflation of 4.7%.

“With changes to pensions and the threat of unemployment causing concern among the over-55s, it is encouraging to see a picture emerging of a group showing determination to tackle this by paying down outstanding debts and boosting regular savings.

“The rising cost of living has caused people to adapt their spending habits and to prioritize their income in retirement, but taking control is helping to reduce their fears about a slow economic recovery and its impact on their finances in retirement.”

If you are struggling on your current income and releasing the equity that you have saved up in your home could help you to enjoy your later years, we buy any house for cash so can help you to realize this.  To find out what The Rapid Home Buyers can do for you call us now on 0800 6528 397 .

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Monday, June 27, 2011 @ 11:06 AMadmin

House values in England and Wales have seen the biggest year on year fall since October 2009 this month.  An average fall of 0.1% this month has left prices 3.9% lower than they were this time last year according to Hometrack.

These figures are mirrored by many other house price reports as people struggle to sell your house quickly in a sticky market.

Since the credit crunch, house prices have fallen by 20%.  At the beginning of last year they appeared to be recovering before continually falling again.

Hometrack’s director of research, Richard Donnell,  explained that the market still hasn’t been quite as bad as he had expected it to be so far this year.  He said: “Low transaction volumes, low mortgage rates and forbearance by lenders limiting the number of forced sales have all played their part. While average prices have slipped back by 1 per cent, sales volumes have increased off the back of higher demand and greater realism over achievable prices.”

House prices are struggling to recover as peoples incomes fails to increase and lending levels are so low due to tight criteria and the large deposits demanded.

Sell my house fast!

If you are looking for a way to achieve a fast house sale, The Rapid Home Buyers can help.  We buy any house fast and will make you an instant offer for your home.  Call us now on 0800 6528 397 to find out what we can do for you!

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Friday, June 24, 2011 @ 11:06 AMadmin

We’ll buy your house now if you need us to!

One expert has pointed out that the rate that repossession levels increase in the UK will be directly related to when and by how much the Bank of England decides to raise the interest base rate by.

Ray Boulger, senior technical manager at John Charcol, said: “The longer the timeframe before bank rates start to go up, the less quickly I think we will see repossessions go up because clearly one thing that would tend to push repossessions up is if interest rates go up too quickly.”

When the base rate is eventually increased from the historically low rate of 0.5%, homeowners who are already struggling to make ends meet because of the affects that the recession has had on their finances, will find it very difficult to meet the increased costs of their mortgage payments. Some of these people will then become victim to repossession.

Some will be able to avoid repossession by setting up IVA’s (individual voluntary agreements) which can freeze interest rates and payments.  Others may look to sell house quickly and move to more affordable accommodation.  Remember that The Rapid Home Buyers buy any house so can help you avoid repossession even if you’ve already received a possession order.

In the last MPC meeting the vote was to keep the base rate at 0.5% for now which was a relief to many homeowners, however at some point it will have to rise in line with inflation.  When it does will you be able to afford your home or should you act now before you find yourself in financial difficulty?

We buy houses for cash so if you want to sell your house quickly get in touch on 0800 6528 397  for a free cash offer today.

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