Inflation rate on hold: Bad news for homeowners looking to sell

The Bank of England on Thursday announced that UK interest rates will remain unchanged at 5.5% for January. This is despite pressure on the Bank's Monetary Policy Committee to lower the rates in order to counteract a decrease in consumer spending.
The decision to not affect a rate cut dashed the hopes of millions of UK homeowners desperate for relief after the expensive Festive Season. To make matters even worse, more than 1.4 million people will come to the end of their fixed rate mortgage deal in the next couple of months. This means that their home loan repayments will increase by an average of 200 pounds per month or more, adding even more pressure on already tight household budgets.

MPG Investments, the UK’s number one cash property buyers, has a 7-day sale approach that offers a convenient solution to dropping house prices and tighter lending conditions.

In a time where experts predict a fall in house buying transactions, MPG offers a quick and reliable property sale. Selling your house in only 7 days is guaranteed thanks to MPG’s expertise and financial power. In other words, it makes no difference whether consumer morale has sunk to a 12-year low, or that mortgage approvals is the lowest in almost three years – it does not affect their ability or willingness to buy property.

For those who are still skeptical about the effect of diminished consumer confidence, a straw poll done by UK website, Thisismoney.co.uk clearly indicates the vast amount of people who are expecting a house price crash.

The site asked readers what they thought would happen to house prices in 2008, with a choice of answers from “they will rise by more than 11%” down to “they will fall by more than 11%”.

Four days into the poll, and almost 23,000 votes later, more than 85% of people had opted for the worst-case scenario. Although this isn’t a scientific study, it does add weight to the prediction that a lot less people are going to do any house buying in 2008.

Earlier, it was reported that campaign group Firstrung warned that house prices could crash by some 35% over the next three years, starting immediately. Firstrung chief executive Paul Holmes was quoted as saying: “We’re expecting a 12% fall in the normal price indices in the next year”.

It has also been announced that Kensington, the UK’s original sub-prime mortgage lender, will no longer be approving loans for people with bad credit histories, making it harder for the self-employed and all those who can’t prove their income.

Lower consumer confidence, fewer mortgage approvals with higher criteria and the expected house price crash, all spell bad news for homeowners in 2008.

The good news for homeowners selling property before the predicted house price drop can turn to MPG Investments.

MPG will buy your house in only 7 days – and that’s a promise. No matter where you live in the UK, the state your house is in, or what your reason is for wanting a quick sale – you’ll be mortgage-free in one short week.

Worried about accommodation? Make use of the Sell and Rend Back option and keep on living in your home after you sold it to MPG. This way, you solve your financial and accommodation problems in one easy transaction.

Don’t get weighed down by all the costs of selling your home. When you make use of MPG’s home purchasing expertise, you won’t have to pay any commission fees, property valuator fees, HIP fees or legal fees when using an MPG-approved solicitor.

Visit the website or contact cash property experts MPG Property Investment on 0800 634 9231 today to find out how you can get rid of mortgage and financial worries within only 7 days.



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