Unfortunately, one of the affects of the recession is that many people have been made redundant and lots more are facing the prospect of redundancy. With unemployment on the rise and so many job losses announced every day, it makes finding new employment quickly even more difficult.

The sudden reduction in the household income caused by the loss of a wage can put strain on relationships - especially if you are worried about making ends meet or getting into debt. It can cause stress, anxiety and threaten your security so it is important to explore all of your options as soon as possible to minimise potential hardship.

Meet a Shortfall in Income

If you have a mortgage but can't meet your repayments, you must contact your lender straight away to avoid unnecessary repercussions.

The government and some lenders have recently made policy changes or launched new options to prevent homeowners from losing their homes as a result of redundancy but deferring payments over any substantial amount of time can add a significant amount of interest to the total repayment and government help repaying the loan is interest only which can leave a significant shortfall between the amount being paid and the amount required.

If you have already considered these options or you are using them but you are still in risk of losing your home because your income does not meet your outgoings, you could consider selling your property and renting it back - as well as there being more help available for paying rent rather than mortgages, you will no longer be liable for the buildings insurance or maintenance so your outgoings may fall.

Whether you want to organise a fast house sale so that you can make alternative arrangements and beat falling house prices or if you prefer to maintain the lifestyle and neighbours you already have, Homes Bought Fast can help you.

We can offer you a short term rent if you want to stay where you are until you find a new house to buy or until your circumstances change or, we can offer long terms rent. Our Sell and Rent Back scheme is approved by the national Landlords Association and enables you to release equity in the property, raise capital to clear debt and stay in your home as a tenant for the rest of your life.

Raise Some Cash

If you have equity in your home you may consider releasing this money to raise cash. By selling your property then renting back your home as a tenant, you can pay off any loans, settle finance options, start a business or simply maintain your lifestyle. Unlike a secured loan, selling your house to raise cash is no risk to your HOME - you do not have to risk leaving it behind if you have to sell your house. Home is where the heart is, not where the mortgage is.

Take swift action to seize control and reduce the impact on you and your family by contacting us now to discuss your options (no obligation, free evaluation).

We are always happy to help !