With higher interests rates, the credit crunch and slowing housing market, is now the time to rent rather than buy? If the number of sell to rent policies are anything to go by, the answer is ‘yes’.
Buying a house in the UK is becoming increasingly prohibitive and for first time buyers, the astronomical prices are making it nigh on impossible. Also, the current climate of economic turbulence is creating a fleet of homeowners for whom continuing to pay their mortgage is no longer economically viable. These homeowners are increasingly opting for a sell and rent back scheme which provides them with equity and allows them to rent in a market where renting may make more sense than buying.
Sell To Rent – Supply And Demand
With the slowing housing market combined with numerous other economic factors, the need for many homeowners to sell their homes quickly has become all too apparent. Many have outstanding debts that can be addressed by a sell to rent scheme that will release equity from their home. In a housing market that has more or less come to a standstill, waiting for a house to sell on the open market, which can take months or even years, isn't financially viable for those who need to clear their debts. The Royal Institution of Chartered Surveyors states that new buyer enquiries have fallen every month for the last 8 months and the amount of stock on estate agents books has risen every month. So, supply is outstripping demand. However, with a sell to rent scheme, the whole sale process will be completed in little over a week which is why it proves to be an attractive proposition for those wishing to get the equity out of their house and move into the rental sphere.
Sell To Rent – Mortgage Mayhem
The housing market is obviously reliant upon lending and the current problems that are being faced can be seen to relate to lending practices. Put simply, there appears to be an increase in the number of lenders giving people mortgages that they simply cannot afford. This will see the threat of repossession in 2008 increase exponentially and sell to rent companies will invariably be where homeowners turn to dig themselves out of the financial hole that has been imposed upon them by the unstable housing market.
Sell to Rent with selltorentltd.co.uk
If you're caught in a financial house-trap, selltorentltd.co.uk can throw you a life-line. Selltorentltd.co.uk offers a sell to rent back scheme for those who like living where they are and want to maintain stability but are facing mortgage arrears, repossession, bankruptcy and debt or concerned financial meltdown is looming. The sell to rent scheme is an alternative to selling up and moving, allowing you to stay put and find financial solutions. Selltorentltd.co.uk will buy your home and allow you to continue living in it as a tenant. Find out more, call Sell to Rent Ltd. today on: 08000 255 868