How to sell your house fast in negative equity
Published by Property Saviour
The UK's No.1 Fast House Sale Company
March 24, 2015 - Read time: 3 minutes
Can I sell my house fast in negative equity? Yes you can.
Can I move house in negative equity? Yes, in certain circumstances this is definitely possible. Make an enquiry now to find out.
What can I do if my house is in negative equity? There are a number of options to sell your negative equity house.
Do you want to move house but you are in negative equity? It may still be possible if you are not looking to take out another mortgage.
What are my options if I have a house in negative equity? Our guide explains in detail. What are my options if I need to sell my house in negative equity
How to get out of negative equity? Read our guide What are your Options if you need to sell property quickly with negative equity?
Can you transfer negative equity to a new mortgage? No.
How to sell your house fast in negative equity?
Negative equity means that the value of the property is lower than the outstanding amount to pay on the mortgage.
It is a common situation to have little or no equity in a property, especially when people live in the home for many years. Over the years the mortgage is paid and property prices increase. However, can be a problem if you need to sell your house fast and find that you are in negative equity.
In this situation it is not possible for you to sell your home for cash as you actually owe more than the house is worth. Walking away from the property is also not an option as the mortgage company will repossess your home and can pursue you for up to 12 years after leaving.
If you are struggling with your mortgage due to any reason such as, negative equity, bankruptcy or the need to relocate, your bank will not allow you to sell your house. You can not move home because of any mortgage lender won’t allow you to take out another mortgage.
A home in negative equity can be a real headache. If you have missed mortgage payments and your home is in negative equity, it could affect your credit rating.
There are other options available to you. Here at Property Saviour we can help.
We can offer you a lease option. This is a flexible arrangement that can be tailored to your needs.
In this instance, Property Saviour will take over the mortgage and take care of all the maintenance of the property. You are then free to move out of the property. When we have taken over the property we will then look to buy the property from you, as the property’s value increases, at an amount previously agreed with you.
House prices usually take 3-7 years to increase, depending on the market. We will aim to buy the property from you during this period, once the property’s value reaches the pre-agreed price.
Hello! I’m Stephanie. Can I sell my house fast in negative equity? Yes of course you can!
You probably bought your property at the height of property boom, right? Do not worry. We can help.
If you are not in a chain, this could be ideal solution for you. We will agree to buy your property at 100% market value at an agreed price in the future say 3-5 years. This agreement will be via solicitors. During this time we will pay your mortgage and insure the property on your behalf. We will rent out the property, and look after it like our own. Within 3-5 years, we will buy the property and give you 20% of any profits if it rises in the value.
Are you paying two mortgages, and two lots of council tax bills? We can take over those payments within 3-4 weeks.
Sounds good? Do you have any questions? We would love to answer these for you.
Why not make an enquiry today to see how we can help?
The perfect solution for people in negative equity, allowing you to sell your house fast:
- Little or no equity?
- Facing repossession?
- Paying two mortgages?
- Wanting to sell but do not need the cash straight away?
- Wishing to secure the sale of your property?
If you need to sell a house fast in negative equity, we will buy it! All legal costs are covered by us and we will even appoint a specialist solicitor to act on your behalf.
We guarantee to help you sell your house in negative equity. Contact us at Property Saviour for free information and advice. Click here for more information.