SELL YOUR HOME QUICKLYUnyielding lending rates favour cash property buyers
The Bank of England decided against implementing an interest rate cut, as confirmed by a report published late last week in The Guardian. House prices, according to statistics released by Halifax and Nationwide, are approximately 1% lower than they were this time last year.
It may seem to some that the two developments of unyielding lending rates and low property prices cancel each other out – interest rates are becoming increasingly unforgiving, but at least property prices are reasonable.
What must be kept in mind, however, is that a low purchasing price cannot benefit a home buyer who is unable to secure a home loan. Taking strain under the so-called “credit crunch”, this has become the reality for more and more buyers. In fact, only half of the number of people who were granted home loans last year are able to qualify today – even when such low property prices are involved.
In the light of these developments, cash buyers – who can enjoy the benefits of low property prices without the deterrent of high lending rates – are flourishing. According to the director of research at Savills, Lucian Cook, homeowners who need to sell urgently should look to cash buyers who will not delay the process as a result of difficult lending circumstances. Speaking to Times Online, Mr Cook said, “These sellers want someone in a rock-solid position, and that is likely to be a cash buyer.”
At MPG Investments, we are renowned for our cash for houses philosophy. Don’t allow the uncompromising interest rate to jeopardise the sale of your home – we will buy it for cash in just 7 days! What’s more, you can then take advantage of low property prices by paying cash for your next home! Why not contact us today?
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Latest News:
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