According to the ONS (Office for National Statistics), roughly 100,000 UK homeowners each month could be faced with mortgage hikes during 2023.
Paired with record-high energy and living costs, it can be hard to know what to do if you’re one of them. Some people are selling their current home to lower the risk of repossession or to avoid shelling out more money on even higher interest rates further down the line.
The mini-budget at the end of 2022 rocked the world of property. Renters, movers or first-time buyers in Greater Glasgow saw the chance to get a mortgage for their chosen home vanish overnight as interest rates soared.
But the problem hasn’t just impacted those looking to buy. Homeowners reaching the end of their fixed-term mortgage and hoping to renew at a decent rate are now finding the only loan products available eye-wateringly expensive.
In Scotland in particular, the rent freeze and eviction bans mean landlords are also feeling the burn as buy-to-let mortgages get too pricey to justify, with many rental businesses running at a loss.
For some – through no fault of their own – monthly payments are now simply becoming unaffordable and the stress on families is starting to take its toll. But with Sell My House in a Hurry*, options are available.
While many reputable lending and debt management services can help people with their finances and payments, many salaries are just not keeping up with inflation. And as 2023 reaches half way, interest rates continue to rise.
Some Glaswegians are choosing to sell their homes quickly and downsize, rent or move to alternative accommodation. This not only releases capital fast in some cases but can avoid the risk of bankruptcy and financial blacklisting due to repossession by lenders.
Sell My House in a Hurry is a fully-compliant Scottish property-buying firm that can help any homeowner sell up on a tight timescale.
A spokesperson for the company said: "As a family-run local business, we work with investors to purchase properties much faster than through the standard estate agency process – we also cover all the usual selling costs like legal fees and marketing, which in turn makes the process easier and gives our sellers peace of mind.
"We can make most homeowners an offer in under 24 hours and have the whole sale process completed in as few as three weeks.
"That means quicker payment and greater flexibility for sellers around the date they wish to move out. Compared to most estate agents which can take an average of three months or more to sell a property on the open market where sales often fall through, our service value is clear to see."
To see if Sell My House in a Hurry can help you or someone you know by buying your property quickly, visit the website or call the friendly local team on 0141 412 0041.
*Sell My House in a Hurry is an HMRC-registered trading name of Butterfly Property Sourcing Ltd. Full details including FAQs are available at www.sellmyhouseinahurry.com.
