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Sell Now Before Mortgage Rates Rise

If you are one of the millions of homeowners who have benefited from record low interest rates of 0.5% then now is the time to take stock of your financial affairs. As London’s largest quick home buyer, we are constantly meeting homeowners who avoided repossession in 2008 – 2010 as a result of the huge drop in their monthly mortgage payments that came about as a result of the Bank of England’s record cutting of the base rate down to only 0.5%.

Householders and landlords who were previously paying maybe £2000 per month on a variable or tracker mortgage often found their monthly payments falling by up to two thirds allowing them to successfully keep a roof over their family’s heads or hold on to that buy-to-let property that was previously losing them money.

With CPI inflation now at 4%, double the government’s target, most commentators are predicting an imminent rise in base rates and even Mervyn King, the governor of the Bank of England has stated in his letter to the Chancellor, George Osborne that he expects rates to rise this year ‘in line with expectations’.

A rise of just 2% in interest rates to a still historically low rate of 2.5% could well see many homeowners’ monthly mortgage payments double and analysts are expecting repossessions to rise substantially this year.

If you think that you may be adversely affected by an increase in your mortgage payments and that you may face repossession as a result, then call SecureASale today for a free, no obligation offer on your home. You might be surprised how much we are prepared to pay at the moment. When mortgage rates do begin to rise, we expect  house prices to suffer and the offer you receive for your property will not be as high as it could be currently.

If you own a house or a flat in London and are thinking of selling, then call London’s most established cash purchaser and secure a fast property sale today.