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House repossession often happens, especially in unstable times of global recession as more and more people’s jobs are at risk and their livelihoods are threatened.

This develops into a vicious circle of being short of money each month, resulting in defaulting on payments to creditors who, in turn, eventually file for bankruptcy. Even if this situation doesn’t occur, if you are unable to keep up with your mortgage payments, your mortgage company may decide to repossess your property, leaving you and your family homeless.

As debts spiral out of control, options to get straight financially become more and more limited – often leaving a single option: selling your house as quickly as you can to stave off the threat of repossession, with proceedings hanging over you. A quick home sale will provide readily available cash if you have sufficient equity in your property. You will be able to clear your mortgage, and you will be left with money to use, possibly for a new home or to help with any other financial problems. You may even maintain a satisfactory credit rating, with the possibility of repairing your credit rating totally.

Selling your house when you need money is not an ideal situation, however we are a company that respects and acknowledges the harsh and unfavorable position of many of our clients and will work with you closely, in order to deal with this issue privately and respectfully, avoiding the implications and the emotional stress and distress that can be experienced during this time. If you are behind with your mortgage payments, the lender can start a home repossession procedure; the lender sends a claim form, which contains the details on the court hearing and other details regarding the property and the mortgage payments.

If you receive such a document you need to contact the lender right away or contact a foreclosure and bankruptcy lawyer who will guide you through the process. At this time everything can seem like a terrifying experience, but you need to remain calm and consult with a skilled and experienced professional who will offer you, professional and reliable advice as well as help to find the right option and solution to your problems.

If you want to avoid this frightening experience you can ask for help from a company like us that can buy your house quickly for cash, saving you from financial and legal complications and the emotional disarray that may come with this situation. As reputable home buyers we will purchase your property from you for cash, allowing you to deal with your debts and financial difficulties effectively, before any extreme measures are taken against you.

As a company that is known to be reputable we organize a very discreet service so none of your neighbors are likely to get to know that you sold your house due to financial need.

Keep in mind that home repossession is the last option and is perfectly avoidable.

If you are going through a tough period and you need cash, it is always a good idea to consider selling your house for cash in order to clear some short or long term debts. If you do not want the hassle of long drawn out sales, or you need cash as soon as possible, you should consider selling the property to a company that buys houses for cash. Selling your house to a property buying company such as Able Life means you have cash immediately available when you are ready to make an offer on a new home. This is far better than putting your house up for sale on the open market. It can save you both money and time and most importantly it can often be the only plausible and effective solution to any dramatic and urgent situation.

Able Life is a company that will purchase your property from you, pay off your mortgage and, once funds have cleared, pass over to you the whole of the equity in cash that is left over once your mortgage has been paid. The property market in today’s volatile global recession is changing, with quick home sale becoming a more and more feasible option. During the sale process you have nothing to pay out and, once the sale has been completed, you get the cash that is locked up in your property. When you go for the quick cash sale option the seller is not expected to pay out anything at all: there are no valuation fees, no survey costs and, as an estate agent is not used, no commission needs to be paid to them.

Furthermore, because this sale is private, no HIPS is required. At the end, once the sale is through, you get 100% of the money. This totally private arrangement is not disclosed to anyone and is kept totally confidential. The actual sale can usually be completed in a particularly short period of time – often just three working days. As an added bonus, you may be able to stay in your property and pay rent, as a tenant, to the company that bought your house from you.

Unlike most companies that buy houses quickly for cash we have property options that may allow you to purchase your property back at its full market value when your financial situation improves in the future. This provides you with the assurance that you need not lose the property that you struggled to upkeep, forever.

Selling your house for cash is probably not what you have been dreaming about, but if you decide to go for it, there is obviously a serious reason that urges you to make this decision.

Choosing us,  a professional property buying company, is a good decision if you need cash quickly and painlessly.

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In the UK it is now compulsory to be in possession of a fully completed Home Information Pack, provided by the seller, before the sale of your house can be completed if the property you are selling has three or more bedrooms: 2-bedroom properties are not included in the HIP legislation as yet.

As a result of the Housing Act 2004, if a property is to be sold on the open market with vacant possession, a Home Information Pack, otherwise known as a HIP or Seller’s Pack, must be provided during the conveyancing procedure.

On 1st August 2007 the provision of a Home Information Pack became mandatory when you sell homes where the property consisted of 4 or more bedrooms. This criterion was extended to houses with 3 bedrooms a little later. However, as a seller entering into a private sale agreement with professional home buyers you will not be required to provide a Home Information Pack.

A Home Information Pack applies to the law of England and Wales. The HIP consists of a set of documents that relates to the property being sold on the open market and, a particular bone of contention is that the HIP has to be provided and paid for by the person selling the property.

The average cost of provision of a Home Information Pack is around £150.00 [British pounds sterling], although this sum is easily recouped from the sale of the house. The good news, however, is that it is supposed to speed up the conveyancing process.

The HIP legislation, although here to stay, is largely unpopular with sellers, estate agents, surveyors and the legal profession generally.

Recently, some changes have been made to the original legislation. From 6th April 2009 the full and complete Home Information Pack must be available for perusal by home buyers interested in buying the property on the open market, from the first day a house is put up for sale on the open market.

As houses in the UK are usually marketed by an estate agent, a copy of the Home Information Pack in its entirety must be provided to whoever asks for a copy, free of charge. There have been other changes to the HIP legislation and, from the 6th April 2009, the inclusion of a Home Condition Report or HCR is now no longer a mandatory requirement.

Under the original HIP legislation HCR information was considered to be the most important document within the whole HIP pack as the purchaser could see at a glance the condition of the property, laid out before them in black and white, clarifying exactly what the purchaser was intending to buy before any conveyancing was entered into.

The HCR was a mandatory part of the Home Information Pack and considered to be the most important document of the whole pack as it prevented potential house buyers from entering into a sale that could, in the long run result in a costly mistake if unrevealed problems with the fabric of the building showed up and had to be rectified after the sale had been completed.

Since the 6th April 2009 a HCR document need not be included in the HIP at all, although it can be voluntarily included for an additional cost.

So, what is actually included in the Home Information Pack? The documents in the HIP pack are divided into those that are legislated as being mandatory and those that are voluntarily included.

A completely new inclusion, since 6th April 2009, is the mandatory Property Information Questionnaire or PIQ. As the seller is the person who has to complete the PIQ, the Property Mis-descriptions Act 1991 does not apply if the seller has put down any misleading or inaccurate information in the PIQ. Also as the seller has completed the PIQ, any future buyer cannot hold the estate agent liable under the Property Mis-descriptions Act 1991, for any misrepresentations that are later revealed.

Bankruptcy and house repossession can often happen, especially in unstable times of global recession and it is not a situation you find yourself in through choice.

Although bankruptcy regulations in the UK have been updated and are now more lenient, it still takes a long time for you to get over the stigma that still applies to bankrupt people even after they have been discharged. If it is at all possible, it is better to avoid bankruptcy by selling your house prior to bankruptcy papers being filed.

There are a number of reputable companies that will purchase your house for cash quickly. Able Life quick home sale could release sufficient money from accrued equity to pay off most of your creditors, or at least bring your arrears up to date so that you can make an arrangement with each of your creditors to pay off what is owed at a reduced monthly rate.

If you do decide to go down the quick-selling route, you need to choose reputable house buyers to purchase your house for cash. If you have plenty of equity in your property this may solve most, if not all, of your problems. The cash made available from your house sale can be used to pay off the creditors who are threatening you with bankruptcy plus you may have sufficient funds to bring payments you owe to other creditors, up to date.

If you sell your property to a house buying company like us, we will pay off any mortgage owing and you may get to stay in your own home as a tenant.

How do you know they are reputable and you are not going to be thrown out on the street after the first few months?  Do your homework and check up on the company before you sign any papers. Get your solicitor to check through all the paperwork before you sign anything. Go on the internet and get as much information as possible about the company that intends to purchase your house. There are a number of reputable companies that buy houses and, if selling your house is the only option to avert bankruptcy, then doing business with a house buying company is probably your best option – especially if you want to be treated with respect and professionalism, avoiding possible stumbling blocks and pitfalls.

Bankruptcy and foreclosure are not an option, therefore, you need to act fast and contact us. We are a reliable company that will buy your house for cash, giving you the chance to pay off your debts and maybe keep some cash aside as well.

You may not, however, have any equity in your property; what then? Don’t worry; contact us now as we have options and solutions to help you!

When I decide to sell my house what do I need to look for when negotiating with professional home buyers?

People who have tried to sell homes have at some point asked themselves this question.

Assurances that the company you have approached, to sell your property in a private transaction, is credible and trustworthy is important for your peace of mind.

The last thing you want is to find the company you are dealing with is not going to follow through on all its promises. What do you need to look for when negotiating with a professional property buying company? The first thing you need to do is check the terms of service. Do they make a fast cash offer? Can they achieve a painless completion within days and not months? Can they really rid you of all the stress associated with selling your property and the unpredicted outcome of a regular sale, without solicitor fees and expenses?

Professional property companies should be able to implement best selling practices, offering full evaluations and working closely with the customer-seller in order to achieve the best possible result and meeting the needs and requirements of the seller.

Reputable house buyers are likely to offer free evaluations allowing the purchase price to be agreed independently and on good terms. All information obtained by the purchaser from the seller will be treated confidentially. While all the activities should be completely clear and above board, with no hidden costs or expenses added at any stage of the proceedings. Everything should be explained in a clear and concise manner.

A reputable company will have an established procedure, dealing with the customer in a fair and consistent way. Above all, a reputable company should show evidence of total commitment to their customers and empathy towards their customers’ circumstances, with the benefit of a no-obligation consultation at the beginning.

There is quite a lot of speculation about the current state of the UK property industry and the ability of sellers and buyers to deal with their financial obligations, thus doing business with a legitimate fair and professional company such as Able Life is absolutely mandatory.

Selling a home never comes easy to anyone. Not only are there financial aspects to consider, there are also a lot of emotional strings attached to the process. You don’t need to get into any transaction which is going to cost you on both levels.

So, do your research and make a well informed decision.

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Conveyancing, in the UK, is becoming a more and more complicated procedure – especially since the HIPs were introduced in June 2007. Obtaining all the information to go into these Home Information Packs is costly and time-consuming. They are legally necessary but, at the same time, extremely costly to the house seller. Include the price charged by the estate agent, the surveyor and the solicitor and the equity from the sale of your house is going to be eaten into before you even begin to see the cash from your house sale. While those companies offer a purchase price below the market value, a quick sale is guaranteed and usually completes within three working days.

When it comes to private sales, HIPs are not a requirement. The property purchasing company covers all the overheads so that what you are left with once the sale completes, is 100% of your cash. Most professional property purchasers will consider any properties, regardless of whether they are residential or commercial. They will also consider the property in any condition. Even landlords of rental properties can benefit – even if they have sitting tenants. The property purchasing company just takes over the current tenancy agreements. Not all professional property purchasing companies belong to the reputable quarter, however.

The best way to ensure that you don’t get taken in by unscrupulous dealers is to check for any bad press that might be accruing. You need to be very vigilant to ensure you are not going to be subjected to hidden costs. Companies with nothing to hide are very clear about the fact that they purchase quick buy properties at below the market value. If you come across a company that fails to mention this fact, then ‘buyer beware’. The reputable companies have been pressing for legislation to regulate this industry and are committed to seeing that customers are protected from the more unscrupulous companies. The best way to ascertain whether the company you are investigating is above board is to ask them how they feel about the industry becoming regulated.

While many consumers are in dire need and must make a quick sale, carefully avoid those companies that insist that you pay fees up-front for any reason and who categorically avoid affirming they offer below the market value. These companies are making their money from inflating valuation fees and subsequently not following through with purchasing your property. Companies such as these have gained quite a bad press in recent years from purchasing property and allowing those house owners to rent their properties back initially – and then, after a few months, giving them notice to leave so they can sell the house on the open market. With a good company this simply will not happen.

Recent figures from the Council of Mortgage Lenders (CML) indicate a massive increase in the number of people losing their homes since 2007. With 40,00010,260 repossessions in 2008 and an expected 75,000 in 20095 it seems that as many thousands of borrowers struggle with excessive mortgages this figure will contiue to rise in 2006.

Equally of concern is the number of homebuyers who are in arrears with their mortgage repayments. A dramatic rise in the number of people behind with their payments is expected this year and the view of mortgage lenders is that this is set to make a bad situation worse.

Mortgages of five times the average salary are now commonplace amongst homeownersbuyers and the reality is that people haveare borroweding too much.

The global recession has had a major impact on economies around the world and has equally impacted many thousands of families here in the UK. There are a number of reasons why people are struggling with their debt but the impact of high unemployment and excessive debt has really taken it’s toll over recent years.

. Wage inflation is lagging behind increases in house prices, unemployment is currently at over 2.5 million which is a a 153 year high and the security of employment is no longer something which most people enjoy.

Short and medium term periods of illness usually never used to be a long term problem but now people quickly find themselves experiencing difficulties they just can not get themsleves out of.

The word in financial circles is that the whilst the Bank of England is currently doing its best to hold the base interest rate at its current level, it may be forced to increase interest rates during 201006 which will only help to worsen the situation for many households across the country.

This trend appears set to continue and combined with increases in taxes, other financial committments and general outgoings the outlook for the average household currently appears bleak.

The reality is that the financial problems we are experiencing are not likely to go away fast and we will be feeling the repurcussions for years to come.

What Can YOU Do Now?

Overpay on your monthly payments

Ask your lender if you can overpay your mortgage. This will help you when times become tough. Most lenders will accept this and it should enable you to take a break or reduce repayments if you need some time to get back on your feet.

Get Insurance Protection

Paying regularly into a Mortgage payment protection scheme will help you should you suffer illness, sustain an injury or become unemployed. Designed to pay out a certain amount each month for some people this has been a saviour.

Available from many of the leading insurers we recommend you shop around for the best deal but remember this will normally only cover you for a set period – usually around 12 months.

Save Regularly

Okay so you have heard this one before, but it really is the best way to ensure you protect yourself for the future. Putting a regular amount in the bank or savings account can help. Savings Rates vary but currently up to 3.24.9% can be obtained from high street lenders, although the best deals are often found in the form of savings bonds and are generally found on-line.

Whatever the reason, making regular savings will help you – so keep saving, you never know when you will experience that rainy day.

It is a well known fact that many house sellers under estimate the importance of taking action to help sell their home. Many vendors believe that their home is fine as it is. They believe that potential buyers will ‘see through’ any minor defects and problems – after all it has not been a problem to them so why should it be a problem to someone else. If a buyer really likes the house it will not be a problem and they will buy the property anyway !! WRONG !! . This mistake is so common, yet continues to be made time and time again by uneducated property sellers.

Taking simple, cost effective steps to enhance your property really can make a difference. Remember, we all have our dream home in our mind, so why not help to make your home someone else’s dream.

So what can you do to help sell your home fast?

We have put together a list of the easiest and most cost effective methods of helping you sell your home. Whilst they may seem obvious enough you will be surprised how much of a difference they can make to the psychology of the sale – you want your house to be remembered for the right reasons – so lets start here.

Keep Your House Tidy
This is probably the most common mistake people make. Leaving your house in a mess will put off even the keenest buyers. The dirty washing up, kids toys, clothes and clutter really does detract from even the nicest property. Potential buyers will spend their viewing time judging you, not your house. Whilst buyers want to get a feel for your property they also want to imagine it being their future home. You may think that it will help them picture themselves in a real home environment, but in reality your mess and clutter will probably put them off the whole idea. Remember, keep it clean, keep it simple.

Make Some Repairs
This does not necessarily mean a full ‘refurb’. It is important to remember that buyers will often look at a property and see its ‘potential’. They will want to change colours and carpets to their tastes which is natural. But, often they will also like to see that a home has been well looked after. If they see those holes in the wall, those broken light switches, hanging wires, missing and broken tiles, they may well wonder what else needs doing. They will lose confidence in the property and may decide that there is too much work to be done.Cosmetic changes are deemed acceptable, but having to get someone in to repair numerous defects is not. By solving these minor problems now you remove one potentially big objection and buyers will hopefully see any other work as just superficial.

Enhance the Exterior
The first thing a potential buyer will see when they come to view your home is the exterior so it is vital you make this as pleasant as possible. Make repairs to the front of your home. This includes damages to render, porches, paths and front walls. Give walls, fascias and fences a fresh coat of paint where possible. Make your property stand out. Make it look clean and cared for. This includes the garden or yard should you have them. Clear the clutter, the kids toys, the rusting car or motor-bike. Cut the grass and tidy the beds if you have them. This really is vital. It could be the first and last chance you have with a potential buyer. First impressions really are very important and if you do not take action you may not even get buyers through the front door.

Reduce Your Price
Being realistic about the value of your property is essential to making a quick sale of any property. We all like to think that our house is worth a small fortune, after all it is our Castle. However, being unrealistic may well hold you back and leave your property sitting on the market for a very long time. Just because a house down the street sold for ‘X’ does not mean that yours will too. There are many factors which have to be taken into account when it comes to the true value of a property. The fundamental element of “it is worth what someone is prepared to pay for it” is very true and must not be forgotten – the question is are you prepared to wait until a buyer will pay what you want for it?. Unfortunately many vendors do miss out on opportunities to sell their home because of this. It is important to make comparisons and these will often vary quite considerably, but you need to look at the big picture and ask why it is you are selling, what is it you want to achieve from the sale of your home and how soon do you need to sell.

Ultimately the truth of the matter will always be that the more you reduce the asking price for your home the faster you will sell it. Just remember that by taking action and making educated decisions You Can Help Yourself Now.

We will help you sell your home fast and for cash. Remember you are just a phone call away from this dream being a reality.

Debt Levels Spiral

The level of personal debt in the United Kingdom continues to spiral.According to the Council of Mortgage Lenders (CML) the number of house repossessions has risen from 4,620 to 8,140 in the last year. This amounts to a massive 76 percent increase over the period.Spending has continued apace and many people have been forced to take out vast mortgages in order to get on to the housing ladder. This combined with spending on credit cards, loans and huge increases in energy bills has led to repossession levels not seen since the nineteen nineties.

Record Bankruptcies/IVA’s

There has also been a massive rise in Bankruptcies and Insolvencies. Individual Voluntary Arrangements have nenver been so high. The number of people in England and Wales alone choosing to take the IVA route as an alternative to Bankruptcy has increased by 153 percent to 11,105 so far this year . This number excludes those in Scotland and Northern Ireland.Whilst an IVA is often the preferred alternative to Bankruptcy, the majority of people fail to fully understand the full impact and potential repercussions that this can have.
This creates a worrying scenario which provides evidence of the increasing financial pressure being placed on many home owners.

Interest Rates

The recent increase in interest rates has caught many by surprise and looks set to pile further pressure on personal finances. The Bank of England has increased the base rate from 4.5% to 4.75% and whilst it is hoped rates will not exceed this figure, we could see yet a further increase in the not too distant future.

What Now?

Should household costs and spending growth continue at their current rate we will continue to see further increases in personal debt. This will unfortuantely lead to many people facing the most fearful event they can imagine – losing their homes and having nowhere to live.Our advice is not to bury your head in the sand. Although many do take this approach this is not the answer. If you do you could lose everything. Take sound advice from your financial advisor or your bank manager. Alternatively speak to the Citizens Advice Bureaux for assistance.You can also receive professional help with your housing problems. Quite often this will not only help in solving your financial problems but also by enabling you to remain in your home as well.

Most of all Act Now – You do have an opportunity to address these issues. Remember these problems will not just go away. With professional help and planning you can find solutions to help you.

The number of chartered surveyors reporting house price falls has reached levels last seen during the early nineties house price crash, new figures show.

The Royal Institution of Chartered Surveyors (Rics) said 49.1% more chartered surveyors said house prices fell during December than those who reported a rise, the lowest figure since November 1992.

At the same time, demand remained subdued with 25% more surveyors reporting a fall in the number of people looking to buy a new house compared with those who saw an increase, while sales fell for the seventh month in a row.

The group said many people had been prevented from moving by mortgage lenders tightening their lending criteria, although it added that likely further cuts in interest rates could help to stabilise the situation.

But despite this, surveyors’ confidence in house prices and sales going forward has reached its lowest level since October 1998 when the question was first included in the survey.

There is now little doubt that the long awaited housing market slowdown is under way, with most house price indexes reporting monthly property price falls, while the number of mortgages being approved also fell to a three year low in November.

Rics spokesman Ian Perry said: “The housing market is clearly feeling the pinch from the credit crunch and the round of interest rate hikes in 2007.

“While sentiment seems to have reached its lowest ebb, the underlying economic conditions are vastly different to what the country experienced in the early 1990s.”

He added that the coming months would be of “great importance” to the market, as many potential buyers would be waiting to see if the Bank of England reduced interest rates again.

Surveyors reported seeing house price falls across all regions of England and Wales, with the heaviest falls concentrated in the West Midlands and East Anglia.