In the news today we read that financial institutions and banks will lose one trillion dollars because mortgage backed assets have lost their value. This year has seen a national downturn in the prices of houses in US and mortgage lenders in the UK have repossessed forty eight percent more properties.
Homeowners are finding it more difficult to repay their mortgages because of the economic slowdown. Although many of us turn to blame the UK weather forecast for a decline in spending, this is not the entire story as the cost of home improvements have climbed by twenty percent in the past two years.
A slow down in the housing market, house sales, a lack of home builders, and families spending less money on their homes and home renovations all are a factor in the falling profits of B & Q, Home Depot, Trade Depot, Screwfix and other DIY stores.
A story from the BBC news on 21st May give details that Home Depot held a slowdown in the housing market, which had been hit by increasing interest rates, and falling house prices, responsible for a loss in their profits. Similarly a report on 4th June explained that sales in the UK at the DIY stores Screwfix, Trade Depot and B & Q were down, and profits had fallen as well.
A month later the BBC news stated that Travis Perkins, the builders merchants who bought out Wickes home improvement stores, had established that customers were spending less on new kitchens, bathrooms and other large items.
Still in July of this year we saw administrators taking over the DIY flooring retailer, Birmingham based Floors2Go. They closed forty-one of their one hundred and thirty two stores whilst they look for a new buyer. As money becomes tighter, home construction and property sales fall, it becomes increasingly harder to ensure a quick house sale.
However there are several companies around who can help you if you are looking for a quick property sale, regardless whether you are facing financial difficulties and repossession, want to relocate or emigrate, have a problem with a commercial property, or have suffered a bereavement. It does not matter whether you live in a leasehold flat, a freehold house or if you are a landlord who has have a portfolio of properties.
They are available 24 hours a day, will personally answer your call and send out an information pack immediately. You will receive a valuation within 48 hours, and then you can take your time to make up your mind. The best thing about this is that there is absolutely no charge whether you decide to go ahead with your property sale or not. On the other hand if you want to exchange and complete within 7 days this is also possible.