More people struggling on the breadline will have to opt for a sell house fast scheme as the poverty gap reaches its widest in 40 years.
More people are getting into debt simply to pay for the basics in life, like heating, food and housing. According to a report by Save the Children, millions of people are being forced into debt because of basic essentials such as energy bills. It's no wonder that more homeowners in this position are forced into a sell house fast scheme.
Sell house fast – get out of the poverty trap
One of the major outgoings for families is their mortgage. And it's expected that thousands of families who are coming to the end of their fixed rate mortgage contracts will be faced with an increase of up to and in some cases, over, a £100 a month. Such an increase, as mortgages are switched to the more pricey variable rates, can prove unsustainable for those homeowners already struggling to stay afloat. A sell house fast scheme could offer a solution – freeing up equity to pay off debts, helping families find their financial feet.
Don't get into debt – Sell house fast
Getting into expensive debt simply to sustain a lifestyle – especially a very basic lifestyle – is dangerous territory. Debt costs a lot, and the more debt you get in, the harder it is to get out of. If you're stuck in a spiral of debt and can't see a way out, a sell house fast option is one way out. As the property market is set to plummet, selling your home online via a property auction website is one way of ensuring you get a fast house sale rather than relying on a slow and difficult open market.
Gap between rich and poor
The problem with the widening poverty gap has been exacerbated by the increase in bad credit loans and other lenders who specialise in the ‘sub-prime' market or who target those who have been turned away by traditional, mainstream lenders. Save the Children has dubbed such lending as ‘exploitative' by charging punitive interest rates for those who are most at risk from facing repossession. 165,000 people are estimated to borrow from illegal lenders and loan sharks, repaying £285 for every £100 borrowed. For those people digging themselves deeper into debt a sell house fast scheme using a property auction is one way of releasing much needed cash, fast.
Sell your house fast with Discount Property Auction
If you need help to get a faster sale, want to sell and rent back or are looking to buy a property at auction, contact Discount Property Auction. We're committed to helping you, whatever your circumstances.
If you want to sell your home, you can use our dedicated online auction facility, which allows you to upload your property yourself and put it in front of genuine, interested buyers. Call us now on 0800 1313 999 or email admin@discountpropertyauction.co.uk.