Brits reluctant to buy says National Homebuyers
Britons are reluctant to purchase houses, spelling bad news for anyone seeking a fast property sale, according to new research from Credit Expert.
[UKPRwire, Tue Mar 04 2008] That firm has published a study, revealing 91 per cent of homeowners have absolutely no intention of moving house.
Further to this, 48 per cent of people who do not own their own property also do not intend to ever move onto the property ladder.
It is bad news for homeowners as fewer buyers will lead to prices falling, and many people may now seek a fast property sale in order to sell before prices fall further.
"With consumer confidence in borrowing dropping two points in the last quarter amidst concerns of an economic downturn, it's understandable that people are feeling that home-ownership is out of their grasp or that they should be ploughing money into home improvements rather than moving," said Darryl Bowman, director of Credit Expert.
Cash for homes property expert Julian King of National Homebuyers adds, "Homeowners facing financial problems and even the threat of repossession need to be aware that solutions exist to help them.
"Mortgage rescue schemes like Sell and Rent Back allow the homeowner to sell their property for up to 100 per cent of its full market value and rent it back on a secure tenancy agreement."
Mr King is a director of National Homebuyers, the UK's leading Sell and Rent Back provider. He is also a founder of APBA [Approved Property Buyers Association] which is calling for regulation in the quick house sale and Sell and Rent Back industries.