At we have many solutions to help sellers when they need to sell their house fast.

Having no or little equity in your house is a common problem. It may not affect you too much whilst living in the house but it may become a big problem when it comes to selling. If you have little or no equity, to sell your house fast for cash is not possible because you owe more than your house is worth.

Negative Equity

What Is Negative Equity ?

Negative equity is when your property becomes worth less than the remaining value of your mortgage. To be in negative equity, the value of your house must fall below the amount you still owe. It’s estimated that there are around half a million properties in negative equity in the UK, although some areas are affected far more than others.

For example, if you had bought a property for £150,000, with a mortgage for £120,000 and prices have fallen and the property is now worth £100,000, you would be in negative equity.

You are not in a position to walk away from your mortgage payments because your lender will be able to pursue you for payments for up to 12 years after your house is repossessed. So if for any reason you can no longer afford to pay your mortgage, we can help you in just 1-2 weeks by using a process called a lease option.

Leasing Options

A lease option for a property is the perfect solution for those who are in negative equity or have low equity and can no longer afford to pay their mortgage. Reasons for not being able to pay your mortgage are numerous: redundancy, health problems, relocation, or other factors can cause you to fall short on your monthly payments. If you have low or negative equity, selling your house through an estate agent or even through a quick cash sale is simply illogical and not possible.

What Is A Lease Option On A Property ?

If you decide to go down the route of a lease option on your property, we will take over your mortgage payments as well as the maintenance of your property until you are in a position to sell it in the future.

If you have a property that you need to sell your house very fast, then using an estate agent in the current market is extremely unpredictable; the over-supply of properties at present means your house could be up for sale for a long time, all the while, you could be advised by the agent to keep reducing the price to attract potential buyers. However, if your property doesn’t have enough equity, that would not be the best idea.

Once the paperwork is signed, which can take as little as 7 days, you are able to move out of the property without any further burden from it. We will appoint an independent specialist solicitor to act on your behalf and we will also pay all your legal fees.

We simply agree on a time period that suits you, to fulfill this obligation. Until then, we have an option to buy your house at an agreed price but we will be taking over your mortgage and looking after your property.

Remember, you are completely free from any obligation for this property during this period. It is as if you have sold your house.

When Would A leasing Option On My Property Work?

There are many situations where leasing options could help you:

  • If you can no longer afford your mortgage
  • If you have mortgage arrears

  • If you are in negative equity

  • If you are facing repossession.
  • You need to move on immediately without your existing mortgage commitments.

  • There is little or no equity in your property.

  • You do not need a lump sum of cash immediately.

  • You wish to secure a price that is close to today’s full market price regardless of the state of the housing market in the future.

Our leasing options service is free and you could find yourself free from mortgage payments within days. Due to the flexible nature of leasing options, it is possible to structure it to completely suit your circumstances.

Step 1:

We will discover your reason for selling and to discuss what you need from the sale, and agree to a sale price that you’re happy with. Then we’ll discuss the term (length) of the agreement and set a buy date. Once agreed, we’ll sign 2 contracts; the first contract relates to stage 2 and the second is for stage 3. This is when we will pay the initial upfront payment (the option fee) to release any equity in the property.

Step 2:

Once everything has been signed and we’ve paid the initial fee, we’ll take “control” of the property (you’ll still own it). We will pay the ongoing monthly payments so that you don’t have a mortgage to worry about. We will also find a tenant buyer for the property through a scheme which helps first time buyers.

Step 3:

Towards the end of the term, the option to buy shall be exercised and we will officially purchase the property from you at the agreed price. It is at this stage that we pay off the final amount owed to you or your mortgage provider and transfer the property out of your name.

If you want to sell your house fast, can buy it in a matter of days.
If you have any questions whatsoever, give us a quick call or fill in an online form so we may contact you and discuss your options.

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