Click here to use our FREE Budget Calculator

Whilst it is very easy to think that you need a fast property sale due to having financial difficulties – often taking a look at what you receive and spend every month can help things become clearer.

Please click on the link to to get free access to our ‘Budget Calculator’ spreadsheet (note that you will need Microsoft Excel to be able to download the file).

By typing in your various incomings (wages, savings, benefits) and outgoings (mortgage payments, bills, shopping) you will be able to see whether your household has a balance budget.

If you have any questions or comments on using this spreadsheet, please do not hesitate email us at info@quicksalecompletions.co.uk with your phone number or complete the form on the right and we will be in touch.

The current economic climate has put many homeowners in a position where they are not able to sell their property, this can be due to a number of reasons including:

• There are not enough buyers in the local market;
• The property needs work done to it before it can be sold;
• There is not enough equity in the property.

Below are a handful of suggestions that you may find useful if you find yourself in one or more of the situations above…

1) Selling on the open market / private sale - many estate agents would admit that their books are overloaded with properties looking to be sold.  For this reason, some homeowners have decided to drop their asking prices slightly in order to make their property look more attractive.  If you decide to do this, be sure to bear in mind the selling costs involved (legal and estate agency fees, for example).

Another alternative is to look to conduct a private sale yourself.  Some options which are possible include placing an advert in your local newspaper or the internet as well as asking friends, family and neighbours.  You should also be sure that you are comfortable with the person you are selling your house to and ensure you use a trustworthy and experienced solicitor.  Selling privately will also mean that you will benefit from the fact that you will not have to pay estate agents fees (which can be anything up to 3%) as well as the Home Information Pack (HIP) charges.  When it comes to having prospective buyers viewing your property, take note of the following low-cost tips to improve the appeal of your house:

• refresh the exterior (trim hedges, tidy pathways, driveways, clean windows etc);
• Mow the lawns, remove weeds, get some colourful flowers;
• Create an inviting entrance – paint front door with a cheerful colour; clean and polish doorknocker and handles, add a welcome mat;
• Remove clutter and unattractive furniture;
• Clean, clean, clean;
• Undertake any minor repairs such as cracks in walls and ceilings, taps, banisters, handrails, visible furniture;
• Quickly brighten up a drab room with a fresh lick of paint in a neutral colour;
• Showcase the kitchen – usually the ‘heart’ of any home – by replacing cabinet doors and hardware, and replacing light fixtures;
• Stage furniture – make rooms spacious by putting spare furniture into storage, selling via e-bay or putting it into a local junk sale;
• Ensure that the property is well lit when potential buyers are visiting.

2) Part Now, Part Later - Quick Sale Completions are able to offer our clients a way of achieving the full market value of their property through a legal instrument called a ‘lease option’.  In short, we will be able to clear any existing debt against the property (and more, should your circumstances permit) and subsequently give you the remainder balance within a set time period.   We are finding that this is suiting many of our clients circumstances at the moment as many are reluctant or not in a position to be able to accept a low offer yet still want to get the best possible price for their home.  Below are some of the benefits of this programme:

• Get rid of the ball and chain of owning a problem property;
• No estate agents commissions, legal or other fees to pay;
• None of the hassle of arranging visits to your home from buyers – get the issue dealt with quickly and easily;
• No broken chain risk;
• Buy back options available;
• Quick no-hassle sale, normally completing within a month (we  have the ability to be able to exchange contracts in 48 hours);
• No HIP will be required and we will take care of any Energy Performance Certificate (EPC) costs;
• Any money that is released will be free of tax.

There are several ways in which we can buy the property, depending on your particular circumstance and we will be able to back the entire process with a legal guarantee.  If you would like to have a no-obligation discussing of this programme, please complete our form to the right and one of our experienced Property Consultants will explain the full details.

3) Downsizing to a lower value property - you may be finding that your mortgage payments are far too high for you to deal with at the present time and so swapping to a smaller place to live may make more sense.  As mentioned above, at the present time, there are some genuine bargains to be had on the open market and estate agents have a lot of properties on their books.  If you can find a buyer for your existing property, you may even be able to part-exchange with someone who is looking to move into a property similar to yours.

4) Arranging a further advance or re-mortgage from your mortgage company - if you wish to remain in the property and are simply looking to release equity, consider discussing further borrowing from your lender. You will need to check your statements to see if there is a sufficient amount of equity in the property.  As a guide, most mortgage companies in the current financial climate would require homeowners to own a minimum of 75% of the equity in the property.   Alternatively, you may decide to take out a second loan secured against your property’s equity.  Bear in mind, of course, that either route means increased debt, and higher monthly repayments. This also leaves you exposed to future increases in interest rates.   Should you choose this route, please ensure that you seek independent financial and legal advice and be aware of the exact terms of the loan.

5) A ‘payment holiday’ and/or payment plan from your current mortgage company and secured loan lender(s) - some homeowners who have been particularly loyal to their mortgage companies have been able to obtain a break from paying their mortgage perhaps, due to unforeseen circumstances.  Should your lender choose to offer you such an option you should, again, obtain independent financial advice and have a clear idea of how you will repay the loan after the holiday period has ended.

6) Converting your mortgage from repayment to interest only mortgage – generally speaking, payments on an interest only mortgage are a lot less but, again, you should be aware of the fact the size of the loan will not be decreasing.  You will need to show to the lender that you will be able to resume repayment of the loan at the point when the terms of the interest only loan finish.

7) An Equity Release Scheme - an option that might be worth exploring is an equity release scheme. These are schemes designed to allow you to sell your property (typically at 40% – 50% of its value) and stay in your property long term. They are designed mainly for the over 55 age group and the low value they offer for the property make them unworkable for people who don’t have enough capital in their property to accept such a discount.

Quick Sale Completions are very pleased to announce its partnership with the UK’s leading housing data specialist, Hometrack.  As a thank you for visiting us and enquiring about our various services we are more than happy to be able to off you a FREE Hometrack report which is specifically designed for your property (normally £19.99 each). For more information, please click on the following link:

What is Hometrack and how can I get my FREE report?

Please also see an interview with National Sales Manager, Ben Squire, below:

How long has Hometrack been established for? Hometrack was set up in 1999…

How do you conduct your research? The national monthly housing market survey is based on a monthly survey of estate agents and surveyors across all postcode districts across England and Wales (e.g. SE5 and CB1 etc).  The survey was first published in mid 2000 and the results are based on the answers to a standard questionnaire of 11 questions which has been in place since the index was first created.  This approach to monitoring prices and other key market indicators is different to that employed by other published measures of house prices in that it tracks trends in areas where there are both strong and weak levels of market activity.

The questions are designed to capture a range of variables on local market conditions as well as the average price e.g. average time to sell, achieved price as % asking price, change in property listings, change in registered applicants, viewings per sale.  Hometrack look to obtain a minimum of two returns for each postcode district. In some areas they obtain many more than 2 returns.  The average monthly sample size is around 5,000-6,000 returns.

Who is responsible for the research and analysis you undertake as an organisation? Richard Donnell is Hometrack’s Director of Research and we also have an analyst who works alongside him.

Your ART Reports have a section that refers to ‘estate agents sentiments’ can you explain this a bit further? Each month we ask estate agents to comment on various market indicators. One of the questions we ask them is their sense of  how prices for each type of property are changing month on month. We then display this on a barometer which demonstrates the general sentiment of how local estate agents feel prices are changing in their area. As estate agents are working at the very front of the housing market we find it a useful way of gauging changes in the market as they happen

What other housing market activity signs can you point out? There are many different factors that affect the housing marker and these are always changing. Every month Hometrack release a summary from our House Price Survey along with analysis.  This is the best way to keep up to date with the UK housing market. This information can be seen by visiting:

How important is it to look at sold house pricing data  - such as from the Land Registry – as opposed to what estate agents are stating as values? When a prospective vendor initially looks into selling their property they will often look in the local newspaper and on the internet for an idea on what their property might be worth. However asking prices are often not a true reflection of what those properties are actually achieving when sold. In the Hometrack’s national house price we ask estate agents for data on the % of the asking price being achieved on sales. This figure can vary greatly from area to area based on the local market conditions. The variance from area to area can be as much as 10% which when looked at in monetary terms can be huge. If selling a property it’s essential to look at what similar properties are achieving rather than what the asking prices are. Hometrack provide free access to sold prices via its website www.hometrack.co.uk.  This is updated every month and allows the public to keep track on both prices and market activity in their area.

As an organisation, Quick Sale Completions receives many calls from homeowners who think they need a fast property sale because they are facing the prospect of repossession.  The reality is that there is often a very simple solution to what may seem like a complicated situation – meaning that you do not even have to consider selling the property at all.

This short article explains the various stages that the lenders go through once a borrower falls into arrears and the steps that can be take to avoid repossession.

Stage 1 – If you are minimum of three months in arrears, the lender will write to you.  Whilst the letter may seem threatening in its tone, you should remember that lenders often have computerised (automatic) systems which deal with people who fall into arrears.  Your best option is to keep in touch with them to discuss the situation.  You will need to take a close look at your monthly budget and see whether you realistically have the means to pay them in the time they require.  If so, you should contact them and explain exactly when the money will be paid back and follow it up with a letter (photocopy this for your own records).  Lenders can be flexible with monies owed provided the homeowner remains honest and keeps in regular touch.

Stage 2 – If the arrears are unpaid for 3-6 months or more (and you have not discussed a payment plan with them), the lender will refer the account to their solicitors. They will write to you demanding full payment and warn that if you do not bring their account up to date or if they have not responded with an adequate proposal for paying off the arrears, court proceedings will be started.  The lenders will start to take a more serious look at what is happening so the key here is to communicate with them as much as possible.

Stage 3 – The start of repossession proceedings: when the lender gets no clarification with regards to paying back the arrears, the solicitors will issue County Court Repossession proceedings against you. The court will set a hearing date which you must attend (or else the repossession procedure could be fast-tracked).

Stage 4 -  At the hearing the Judge will decide whether you can repay the mortgage, on what terms and over which period.   It should be remembered that, generally speaking, the court’s view is that repossession is the last resort and the Judge will explore all options available to you.  If you are in this situation, you should take along as much evidence as you can with you to show if, what and how you will be able to pay them back (things like payslips, a letter from your employer / job centre).  The judge will make one of the following decisions:

• Adjorn – one outcome at the first meeting is to adjourn to a later date to allow for the collection of more information (if, for example, you are able to provide some new evidence as to how you can clear the arrears) – a new hearing date will be set;

• Dismiss or Adjourn indefinitely – usually only following full payment of the arrears;

• Issue a Suspension Order – if you can come up with an agreed arrears repayment schedule, then the Judge may issue a Suspension Order i.e. the repossession order is temporarily placed on hold.

Stage 5 – after the hearing, if you feel that you still cannot keep up with the agreed schedule with the judge contact us by completing the form on the right of this web page.  We will spend some time discussing other ways you could potentially deal with the situation, including our ‘part-now, part later’ policy which will enable you to receive the full market value of the property.

If you fail maintain the agreed payment schedule, the lender can obtain a Possession Warrant (Eviction Order) without further court hearings.  You will receive a date and time from the court when you must leave.  Please note that should you find a way to clear the arrears at this point (for example, you have found a buyer for your property) you can still stop the process from happening by visiting the court with a completed N244 form which can be downloaded here.

Note that there have been some exceptional instances where we have been able to get the property back into the name of the homeowner after the eviction has taken place.  If you have been repossessed already, complete our form on the right and our legal team will be in touch with you in the next few hours.

Please complete our web form to the right of this page for a no-obligation chat.

Who We Are…

You may have spent some time looking at our website but, in short, we are an organisation that does the following:

(1) Provide free no obligation information for those who need to sell their property fast;

(2) Offer free property reports in conjunction with our partners at ‘Hometrack’;

(3) Operate as a professional and quick cash house buyers (we are able to exchange in 48 hours and our average completion time this year has been 20 working days).

The team at Quick Sale Completions have over 15 years collective experience of operating within the housing sector and are therefore fully knowledgeable about all aspects of buying and selling.  We will also be receiving article contributions from partner property professionals within the industry which we will look forward to sharing with you.

Why write a blog..?

Quick Sale Completions are contacted by homeowners on a daily basis – many of whom are in need selling their home quickly.  More often than not, we can make a few enquiries and get the matter dealt with – without them even having to even consider selling their house to us.  We want to remain in the housing industry for the long-term and do not believe in operating as a ‘fly-by-night’ organisation.  The blog will be a way for us to communicate to homeowners exploring a fast sale and keep them informed of the best way to deal with their situations.

What will be on the blog…

This blog will be updated on a regular basis with practical hints and tips based on the knowledge that we have acquired when dealing with fast home sellers, including:

• Achieving the best possible price for your property in the current climate;
• The pros and cons of using a private sales company;
• Guides to selling your property fast through estate agencies and auction houses;
• Valuing your property in an ever-changing market (access your FREE Hometrack report here);
• Property finance made simple and how to communicate with your mortgage lender;
• Protecting the equity in your property;
• Essential legal information;
• Save £1,000’s on Estate Agency, Home Information Pack (HIP) and Energy Performance Certificate (EPC) costs;
• Debt management tips…

Please do feel free to email us at info@quicksalecompletions.co.uk and, if you would like to be contacted by one of our Property Consultants for a no-obligation chat please complete our online form to the right (and above) of this web page.