The words, 'Negative' and 'Equity' when put together strike fear into the hearts of many property owners.
After all, bricks and mortar have always seemed such a safe place to invest.
However, since the credit crunch hit the UK, a shocking 41% of homes for sale have been sold at a loss (source: Land Registry figures).
And that's not all.
It takes quite some time to achieve a sale.
According to recent figures most London properties are on the market on average for five months, and it takes nine months on average in the rest of the UK to sell a property.
So vendors have a lot to consider.
Having to sit tight for months on end, paying a mortgage that has no value in it, all to sell your home at a loss is not a desirable situation to be in.
If, like me, you've been around during 1980s England, you'll remember privatisation and the emphasis the government and media gave to us all about having the right to buy our homes.
We've all been conditioned to strive for home ownership, inclined to take on debilitating mortgages.
Many of us have been affected by crashing house prices.
Thought of as the biggest investment you'll ever make, what happens when your home has lost its initial value? From a financial perspective negative equity is the point when the biggest investment you've ever made does an about-turn and becomes a burden.
Monthly mortgage payments go out every month into something which now has no value.
You, the hardworking homeowner, find yourself in a position where you're better off paying rent.
So how can you move home fast in this situation? It's important to remember that there are other options.
If you need to sell but have no equity in your property and don't want to wait for months on end to move it's possible to hand the burden of your mortgage and all the responsibilities of the property over to a reputable company or property investor.
There are companies and investors who will take over your mortgage payments, manage and maintain your property and take care of everything for you so you can walk away from the burden and move on with your life.
The most professional companies and investors have contracts drawn up by solicitors and deal direct with your mortgage company so the stress of the property is no longer your problem.
Once you move the boiler, roofing, repairs, service charges and maintenance are no longer your problem.
If you find a really good company or investor they'll even pay your legal fees, so you can just walk away and move on.
And the best thing about this is that the whole process takes just a matter of days.
You could move within a fortnight, but it's best to check the following out if you're thinking of doing this: • Only consider handing your property over to a reputable company or investor.
You can research a UK company on the companies house website.
• Only handover your property if there are proper legal contracts drawn up by solicitors.
• If a company or investor is serious, and know what they are doing they will organise and pay for your solicitor and legal fees.
So if you need to move fast and you're in negative equity, don't despair.
Contact a reputable investor or company and find a way forward.
I wish you a happy house-move.
After all, bricks and mortar have always seemed such a safe place to invest.
However, since the credit crunch hit the UK, a shocking 41% of homes for sale have been sold at a loss (source: Land Registry figures).
And that's not all.
It takes quite some time to achieve a sale.
According to recent figures most London properties are on the market on average for five months, and it takes nine months on average in the rest of the UK to sell a property.
So vendors have a lot to consider.
Having to sit tight for months on end, paying a mortgage that has no value in it, all to sell your home at a loss is not a desirable situation to be in.
If, like me, you've been around during 1980s England, you'll remember privatisation and the emphasis the government and media gave to us all about having the right to buy our homes.
We've all been conditioned to strive for home ownership, inclined to take on debilitating mortgages.
Many of us have been affected by crashing house prices.
Thought of as the biggest investment you'll ever make, what happens when your home has lost its initial value? From a financial perspective negative equity is the point when the biggest investment you've ever made does an about-turn and becomes a burden.
Monthly mortgage payments go out every month into something which now has no value.
You, the hardworking homeowner, find yourself in a position where you're better off paying rent.
So how can you move home fast in this situation? It's important to remember that there are other options.
If you need to sell but have no equity in your property and don't want to wait for months on end to move it's possible to hand the burden of your mortgage and all the responsibilities of the property over to a reputable company or property investor.
There are companies and investors who will take over your mortgage payments, manage and maintain your property and take care of everything for you so you can walk away from the burden and move on with your life.
The most professional companies and investors have contracts drawn up by solicitors and deal direct with your mortgage company so the stress of the property is no longer your problem.
Once you move the boiler, roofing, repairs, service charges and maintenance are no longer your problem.
If you find a really good company or investor they'll even pay your legal fees, so you can just walk away and move on.
And the best thing about this is that the whole process takes just a matter of days.
You could move within a fortnight, but it's best to check the following out if you're thinking of doing this: • Only consider handing your property over to a reputable company or investor.
You can research a UK company on the companies house website.
• Only handover your property if there are proper legal contracts drawn up by solicitors.
• If a company or investor is serious, and know what they are doing they will organise and pay for your solicitor and legal fees.
So if you need to move fast and you're in negative equity, don't despair.
Contact a reputable investor or company and find a way forward.
I wish you a happy house-move.
Source...