There are many reasons for people to relocate – for a new job, because their current employer is relocating, for a better quality of life, to be nearer better schools – whatever your situation, if you need to move quickly, Quick Move Now can help.
There are many things to consider when relocating, and finding a place to live is of prime importance, whether you are looking to buy or rent.
When relocating, you have several options with your existing home – move before it is sold, rent it out, sell through an estate agent, or sell quickly through a professional house buying company such as quickmovenow.com.
Moving before your existing house is sold could be costly – you’ll be paying a mortgage and rent, or you’ll need an expensive bridging loan. What happens if your house doesn’t sell?
Renting your house has its own costs and risks – if you’re looking to buy a new house, you’ll need an additional mortgage, you’ll need to find tenants and manage them, and you’ll have more exposure to the housing market and interest rates.
Selling through an estate agent can take months – we’re often approached by people who have been trying to sell their properties for over 12 months, not ideal when you need to relocate in a specific timeframe.
By selling your home quickly to a professional house buying company, you remove one of the biggest potential obstacles to your relocation, helping to guarantee your relocation timescale and putting you in a strong position to buy your new house
Nationwide reports today that house prices have suffered their largest monthly fall since 1991.
Prices fell by 2.5% in May, with prices now 4.4% lower than one year ago, a drop of £8,000 on the average house. The average UK house price is now £173,583.
The Nationwide's report said that house price falls are now accelerating and had fallen for 7 months in a row, with this being the longest period of house price falls since 1992.
Howard Archer at Global Insight is now forecasting that house prices will experience a double-digit fall in 2008 and 2009.
38,704 new mortgages were approved in April, a slight rise on March but 39.4% down on last April's figures.
Approvals for new house purchases was well down on 2007, but approvals for remortgages was up.
A BBA spokesman commented that pressure on household finances, falling house prices, and tighter lending criteria were all cutting the demand for people wanting to move home.
Lenders are now expecting that fresh mortgage lending will shrink by about 40% this year, despite the efforts of the Bank of England to inject more money into the banking system.
Standard & Poor's figures show that 20% of 'sub-prime' borrowers in the UK have fallen behind with mortgage repayments. 10.6% of sub-prime borrowers were 90 days of more behind on repayments.
quickmovenow.com has gone from strength to strength over the past few years; we have seen the number of home purchases we have made grow steadily, as has the number of satisfied customers (our testimonials page can be seen here). As the respect we have from our customer base has grown, our respect from the search engines, especially Google, has risen too. This can be seen in the fact that for many of the most popular and competitive phrases in the house buying sector, quickmovenow.com is ranked at or near the top of Google.
For example, if you type in "house buying company" into Google, you will see quickmovenow.com as the number one listing in the main ("organic", or non-paid) search results. If you look at the number of pages that contain that phrase, you will see that Google considers our site to be the most popular and most relevant out of 8.4 million web pages, which is, I think you'll agree, some achievement.
Other popular house buying-related searches that quickmovenow.com comes on the first page for (often beating millions of other pages) include: "buy my house", "sell my house quickly" and "home part exchange".
Google has developed very sophisticated algorithms over the years in order to decide which website is the most popular, respected, and relevant for a given search term. We are pleased to report that, as we have shown above, quickmovenow.com is regarded very highly by the most popular search engine; this reaffirms the confidence held in us by our customers.
RICS has forecast that the number of house sales could fall by 40% this year. This would amount to the largest fall in the housing market since records began and could cut consumer spending by 8%. The previous largest fall was in 1989, when they fell 26%. Sales to date in 2008 are already down by 32%.
The slowdown has already affected removals firms who have seen a slump in business, with the number of moves down by 55% in the first three months of this year, and down by 68% in the past six weeks. If sales do fall 40% this year, that represents 700,000 fewer residential and commercial property sales than in 2007.
RICS also predicted that house prices would fall by 5%.
As many people are already experiencing, household bills are rising sharply. This was confirmed yesterday, by Mervyn King, the Governor of the Bank of England who warned families to brace themselves for a further squeeze on their household finances, as energy bills and food prices continue to rise.
With inflation set to increase to 3.7% - almost double the official target - the likelihood of further interest rates cuts in theshort to medium term look unlikely. Indeed, we could see the return of stagflation - rising interest rates to counter inflationary pressures, while experiencing falling economic growth.
Mervin King warned home owners to expect further price falls adding that is was impossible to predict the size of these falls. He warned that a sharp downturn in the economy could not be ruled out.
According to the latest RICS survey published today, a record number of surveyors are reprting house price falls. 82% of estate agents/surveyors have seen a fall in house prices since the start of 2008, the worst rating since records began in 1978.
The figures show that the housing slump is even more widespread than during the last house price crash in the early 90's with house prices falling across the whole country. According to Simon Rubinsohn, chief economist at RICs, "even during the house price crash of the early 90's, some parts of the country didn't take as much o a beating."
On a brighter note, the house price falls that are reported are relatively modest, with ost surveyors reporting a fall of less than 2%.
The 82% of surveyors reporting a fall is up on the April figure of 66%. It was the 9th month in a row that the number of surveyors reporting price falls has risen.
The worst hit areas of the country are East Anglis, the North and North-West where all surveyors reported falls.
In the latest RICS survey, the number of completed house sale has been described as 'falling off a cliff', with vendors reluctant to reduce prices and potential purchasers finding it hard to secure mortgages and too afraid to commit.
According to Brian Jackson of Ellis and Sons, an estate agent in Southport, the number of completed house sales is at its lowest since their records began before the 1990's house price crash.
According to another agent in Kent, the housing market is the worst in 35 years.
The average number of completed house sales per estate agent was just 18 in April, compared with 24 in March - a 25 per cent drop in just one month.
The number of repossession orders issued in England and Wales is up by 17% in the first quarter of this year (2008).
There were 27,530 orders made, against 23,438 for the same period of 2007.
The number of mortgage possession claims - the first stage of the repossession process - was also up, with 36,688 claims in the first quarter, up 16% on the previous year.
The greatest increase in repossession orders was in Wales, where the numbers were up 26%.
A number of factors are being blamed for this increase, including the credit crunch and subsequent increase in some mortgage payments, and rising household bills.
The government has announced that the final stage of the full implementation of Home Information Packs (HIPS), will be delayed.
The requirement that a HIP is produced prior to a property being marketed will now be delayed until the end of 2008. Homes can therefore continue to be sold, so long as a HIP has been ordered and paid for.
The government has also delayed until the end of the year the requirement that leases should be included in a Hip if the property is leasehold.
These latest developments and delays are the last in a long list of delays and amendments to the original plans for Home Information Packs.
We should again emphasis that, as a private buyer, you do not need to purchase a Home Information Pack to sell your house to Quickmovenow.com. This will save you both time and money. For further information, call us now on 0800 068 3366.
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