A Quick Property Move Offers Mortgage Arrears Advice UK Residents Can Benefit From

LONDON - July 16, 2014 - PRLog -- While mortgage arrears advice UK residents can avail of are aplenty especially with the prevalence of the Internet, not everybody can be trusted with their information. Distressed homeowners especially those facing repossession should then make a smart decision when choosing their advisor-company since their interests are at stake.

A Quick Property Move, a leading real estate company in the United Kingdom, provides reliable information about repossessions, mortgage arrears and quick house sales for their clients. The company caters to distressed homeowners whose properties are the subject of one of the abovementioned scenarios but who want to get the best deal out of the experience.

With the combined expertise and experience of their staff members, the company offers relevant and reliable mortgage arrears advice UK residents can truly benefit from. The advice includes the ways in which to repay the arrears on the mortgage, the methods for avoiding repossession, and the process for quick house sales, all of which are designed to provide useful assistance in a difficult time for homeowners.

In the United Kingdom, the real estate market appears to be on the mend after the bust brought by the global financial crisis. The number of homeowners facing repossession (i.e., failing to pay their mortgage repayments and getting their properties repossessed) has fallen to its lowest level in the past six years.

This good news is set amidst low borrowing rates and a decline in the unemployment rate. It was in 2009 that the number of repossessions peaked but it has steadily fallen since then although it must also be said that the market is not yet out of the dark.

According to the Council of Mortgage Lenders (CML), mortgages ending in repossession have fallen by 15% to 28,900 in 2013. This represents 0.26% of all outstanding mortgages - truly, good news considering that it is the lowest since 2007.

In 2007, Britain's economy was in relatively good shape before it took the full force of the 2008 financial crisis. The situation worsened with the collapse of Lehman Brothers, a leading investment bank based in the United States, in September 2008. The economy soon felt the effects including the real estate market crash.

According to Paul Smee, the CML general director, the good news can be attributed to the lenders' more effective management of accounts in arrears and a more improved economy. More homeowners can afford to stop repossessions of their home as a result while more lenders recognise the necessity for assisting distressed homeowners for their business.