A Real Alternative to Property Repossession

Bournemouth, United Kingdom, October 27, 2007 --(PR.com)-- Bournemouth based property company, A Swift Sale is offering a solution to people facing repossession. The service offers to buy property quickly and deal with all negotiations and proceedings with mortgage lenders and courts to prevent repossession. The sale of the property allows the owner to clear their debts and either rent back the property or move on. With this service A Swift Sale have successfully helped a number of households stay in their homes and avoid repossession.

The average homeowner is facing serious pressure on their finances including the recent interest rates rises, historically high property prices and unprecedented consumer borrowing. These and other factors have led to rates of home repossessions by mortgage lenders to rise significantly over the first 2 quarters of this year and there is no sign of them slowing down. The Royal Institute of Chartered Surveyors have estimated repossessions will be in excess of 45,000 in 2008 and equivalent to 124 repossessions every day.

With repossession rates this high, large numbers of homeowners and households are losing their homes. This is where A Swift Sale’s service offers a real alternative to repossession. If the property owner has sufficient equity in their property to cover their borrowing, A Swift Sale offer an efficient service to purchase the property without the usual stresses and delays associated with the open market. Once the property is sold the owner can use the funds to pay off all their outstanding loans and prevent repossession.

Recently A Swift Sale completed on the purchase of Mark Green’s property in Southampton. Mr Green was facing repossession as he couldn’t keep up with his mortgage, credit card and loan repayments. Mr Green approached A Swift Sale, who had a qualified surveyor value the property. The property was valued at £130,000 and A Swift Sale offered £105,000. The lender was made aware of the offer and because it was sufficient to cover Mr Green’s borrowing, lifted the repossession order. Completion on the property was secured in a matter of days and Mr Green and his family are now renting their home back from A Swift Sale.

Mr Green said, “If it wasn’t for the service offered by A Swift Sale, my family and I would have been left without a home. We are now back in our property and getting on with our lives. Once A Swift Sale got involved we could finally get control of the situation. Having a professional team who knew the processes and what needed to be done to stop the repossession made everything much easier to deal with.”

A Swift Sale director Paul Francis says, “Repossession and the prospect of losing your home is a daunting and highly stressful experience. We are very proud to be offering an alternative where we can help people get through this difficult time and back on their feet.”

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