How To Escape The Negative Equity Trap
New Service Offers Freedom For People Who Can’t Move House Due To Negative Equity
London, 14 July 2010 - UK financial service Sell My Negative Equity House has come up with a way to help people who cannot sell their homes because of negative equity: their house is worth less than the loan secured on it. The ingenious new financial instrument is a mixture of UK, US and Australian law and has taken over two years to perfect.
About two million people at the moment in the UK cannot afford to move because they are stuck in the so-called negative equity trap - their property is valued at less than the mortgage or total debt secured upon it. People who want to move for career or family reasons are finding that moving is impossible because of their negative equity status.
The majority of people who find themselves in the negative equity trap will be people who took out mortgages with a lender such as Northern Rock (their Together Mortgage), Abbey, Coventry Building Society or Alliance & Leicester, though these are by no means the only lenders whose customers find themselves in the negative equity position.
This is not be confused with firms who buy ‘quickly’ but under market value. The new service only deals with people who will buy at 100% market valuation of the property home. Client service manager Jenny Hooper explains that “You can be in any area in the UK, your home can be valued at any price and can also be in any condition. Whatever the age, value, location or condition of your home, you will get 100 percent market value for it.”
What is more, the new service, which is an amalgam of UK, US and Australian financial and legal practice, provides a solution to the negative equity trap where there are no legal fees, no estate agent fees and no redemption penalties involved.
“It’s actually a surprisingly simple idea, when broken down into its constituent parts. But the simplest ideas are always the best” says Jenny.
For more details about how to put the negative equity trap behind you visit the website. This service is only available in the United Kingdom.
Website: The Sell My Negative Equity House website at http://www.sell-my-negative-equity-house.co.uk/
Contact Name: Jenny Hooper
Company: Sell My Negative Equity House
Tel. 0800 043 1683
Fax. 0208 421 6032
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- Contact Information
- Jenny Hooper
- Client Services Manager
- Sell My Negative Equity House
- Contact via E-mail
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