Many not taking advantage of household equity say National Homebuyers

Homeowners would do well to make a quick property sale as the UK's house price boom comes to an end.

[UKPRwire, Fri Nov 02 2007] That is according to Capital Economics, which says that there are "growing signs that the housing market is now slowing".

The debt amassed by mortgage borrowers in recent years is set to grow however, and the firm suggests that you may need to find someone to buy your property quickly in order to get the best value and ensure that you do not fall into financial difficulty.

"Mortgage debt will continue to rise sharply for several years, pushing up households' debt servicing burdens," said Vicky Redwood, UK economist at Capital Economics.

"But the effect of this on spending should be partly offset as households continue to unlock the gains in their housing wealth.

"Households have not yet felt the full benefit of the rise in housing equity… This still leaves most of the rise in housing wealth untapped," she added.

Homeowners can avoid financial difficulty and possible repossession by releasing the equity locked up in their home.

Julian King of National Homebuyers, the UK's leading fast property purchase firm, says, "Many homeowners are cash poor, property rich.

"In order to maximise profit in a falling market, one would need to find a buyer quickly. With increasing delays suffered when selling your property on the open market, tens of thousands of homeowners are looking for a quick property sale solution."

Mr King is a director of National Homebuyers, the UK's leading fast property purchase firm that guarantees to make an offer on any property in the UK for vendors who need a quick sale.

Bookmark this release: Del.icio.us - Digg - Furl - Blinklist - Reddit