Half A Million Homeowners In The UK Can't Sell Their Property
There is a way out for owners trapped in their property who need to free-up the equity fast
[UKPRwire, Tue Feb 09 2010] Around 600,000 people are trapped in their property because they can't sell it for the price they want. And according to the same research, the people most likely to be hit are people over 55 who may already have paid off most or all of their mortgage but can't find a buyer. The poll was carried out by Unbiased.co.uk, the professional advice website, and shows a massive increase in the number of people trapped in their properties over the past five years. Despite reports of rising property prices, the market remains nervous.
“We have lived in our home for nearly 30 years,” says Mrs J of Hounslow. “A few years ago we decided to relocate to Spain to retire. We knew that house prices were falling and put our house on the market at what we thought was a realistic price. In the past two years we've dropped the price twice. We've made it clear that we are open to offers. One sale fell through when the buyer couldn't get a mortgage. Another fell through when the buyer was unexpectedly made redundant before we had exchanged. We feel that our home is a good investment but people seem to be over cautious.”
Sell Today was able to help Mrs J and her husband to sell their house, free up the equity and make the move to Malaga that they had planned.
“The current climate means that people who might otherwise have moved up the property ladder are staying put and adopting a wait-and-see stance,” says Sell Today's Amanda Hoyles. “It means that more and more people are stuck where they are and can't move on. It's not a great situation to be in, but at least it is one where we can be of help.”
For nearly eight years Sell Today has been buying properties for cash, allowing owners to free up their equity quickly and move on.
“We were amazed that the sale went through so fast, “ says Mrs J. “It was around a month from the first phone call to the actual sale, when the money appeared in our bank account. And we were able to stay an extra week while everything was packed and shipped over to our new home in Malaga. It wasn't what we had planned but the offer was fair and Sell Today paid all the legal fees. What's more we didn't have another English winter eating up our money on heating bills.”
NOTE TO EDITORS
An independent UK property buying company operating from Central London since 2002 and buying property for cash all over the UK, Sell Today is independent and remains privately owned by the founding Directors. All our employees are experienced industry professionals and trained to an extremely high standard.
We deal with every enquiry sensitively and promptly, helping clients get cash for their homes when they need it.
Sell Today on 08456 341 456 (Lines are open 24 hours a day 7 days a week)