Mortgage Timebomb

Recent figures released by the FCA have identified that there are over 1 million homes owners in the UK who will not be able to pay the shortfall when it comes to paying off the balance on their mortgage. The average shortfall is £71,000 they say.

With up to 48% of home owners with this type of mortgage facing this problem it is not difficult to understand why many are worrying about the future of their home, finances and the risk of repossession.

For many the only solution when they are faced with the question, maybe I need to sell my house fast, will be to do exactly that.

This is especially so for the large group of over 50’s who according to SAGA may well struggle to re-finance, and with house prices continuing to be depressed across the united kingdom the situation is rather bleak for many.

Finding the right solution for a problem selling a house or home is vital when faced with such a difficult situation and at Able Life property solutions our team will help you do exactly that, whatever your financial situation.

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