National Homebuyers: 'Everyone affected by credit crunch'

There may be a rise in people seeking a fast property sale as the withdrawal of mortgages continues.

[ClickPress, Tue Apr 22 2008] Moneywise news editor Rebecca Atkinson said that people on all kinds of incomes are likely to be affected.

She pointed out that lenders are concerned about lending to anyone and she believes that problem will only get worse.

The news is likely to be of concern to homeowners and may lead to many people seeking a fast property sale.

Ms Atkinson said the withdrawal of products "will affect you whether you have half a million quid to put down or if you are a first-time buyer.

"It is affecting all borrowers, but there are natural victims in first-time buyers because they're less likely to have a deposit because they haven't got equity from a previous property," she added.

Fast property sale expert Julian King from National Homebuyers adds, "The lenders are likely to continue to limit the number of products available to borrowers.

"I anticipate the continued and increase charges for borrowers with less than a 25 per cent deposit. This all simply means fewer buyers means lower property prices".

Mr King is a director of the UK's leading fast home buyer, National Homebuyers. The company is provides repossession and mortgage rescue solutions such as Sell and Rent Back where the homeowner can sell property quickly to release cash, but remain living in their home.

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