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SELL YOUR HOME QUICKLYCredit crunch: Cash buyers for property dry up
Cash buyers for property are becoming a scarce commodity across the UK. While in the past people were eager to put down cash for property in order to secure a good investment, the focus has now shifted to sitting back and waiting for the property market to stabilise.
While cash buyers for property think they’ve got it bad, first-time homeowners looking for a mortgage have got it even worse. Tightened credit conditions have led to serious problems in the property market, and the number of mortgage approvals continues to fall.
Mortgage activity takes a tumble
Homeowners who have to remortgage or purchase a new home are increasingly finding doors slammed in their faces as lenders apply stricter credit conditions. On top of that, mortgage providers continue to rapidly adapt their products and pricing in response to the current uncertain conditions.
Meanwhile, the demand for houses has already decreased. Since the credit crunch has caused the man on the street to have a general shortage of cash, buyers for property is in low supply. This is exacerbated by the fact that many prospective property buyers don’t make the cut any more due to very strict credit conditions, and fewer and more expensive mortgages on offer.
More house buying battles ahead
While the effect of the credit crunch on house prices might seem beneficial to first-time home buyers, leading property experts have warned that falling house prices would do little to help would-be buyers because affordability was unlikely to improve. This short supply of successful first-time mortgage applicants results in fewer cash buyers for property.
MPG: Guaranteed cash buyers for property
MPG Investments is the UK’s leading cash buyers for property. We have a few secrets to success, including the fact that we will buy any property in the UK – regardless of the condition, location or circumstance. It doesn’t matter whether house prices rise and fall, or interest rates fluctuate; MPG will buy your house for cash – guaranteed.
Add to that the fact that we will buy your home in only 7 days, and you have a winning formula. Many homeowners can’t afford to sit back for months while their house is on the market. That’s why it makes sense to contact MPG on 0800 634 9231 today. A free property value assessment will be done within 24 hours, and you will receive a written and guaranteed cash offer only 48 hours later. One week after your initial phone call, you will have the cash deposited into your bank account – no hassles and no delays.