23/11/2015 By property

How to get out of debt fast

Debts can weigh even the most financially prudent person down and create all sorts of headaches, especially when it comes to working out how to get out of debt fast. No one wishes to be in debt and it can be down to a number of reasons that someone finds themselves heavily in debt and looking for a way out and back into the black.

There are also varying scales of debt, it could be a manageable credit card debt right through to a mortgage. No matter how small the debt starts it is how it is approached that can see it sometimes spiral out of control. The amount of debt that is owed and the timescale the payment is required by will determine the approach you need to take to clear your debts.

The majority of debts can be fixed by assessing your monthly outgoings and financial commitments vs your monthly income and managing debts in order of priority. However, there are times where debts have mounted on top of each other and the payments are due imminently and there is often the need to act in a much quicker way. In these situations it may be that the lending company is pursuing other means of receiving their money – including repossession.

How Barry Home Buyers Can Help

Barry Home Buyers are specialist cash property buyers and this means that we are in a position to help ease our client’s debt worries through the cash purchase of their property. Whilst it is a big decision to sell a property and potentially move into rented accommodation, it is one way to get finances back on track and place your future financial standing into a more positive position.

We have cash funds readily available and are able to complete a cash purchase within 28 days, or quicker in some circumstances. We will arrange a survey of your property and make you a cash offer, regardless of its condition and sign a legally binding document committing us to the purchase. Once the sale is completed we will transfer the agreed amount across to you.

If you are facing repossession Barry Home Buyers will be able to provide you with the evidence that you are selling your house and deal with the bank in the process of the sale. If you are selling a property to clear other debts, the purchase money can be used to clear your mortgage and then pay off your other debts.

Additional Advice

Getting out of debt is a major job and one that can have many ups and downs. The first part of moving into the black is accepting your situation and building a plan. There are many charities and online resources that can help you with advice and it is important that you seek assistance if you are in a critical situation. Below are some of the better known places you can receive high quality and impartial advice.

UK Government – The UK Government has a very useful portal for information regarding debt and your rights regarding debt payments and potential court cases or insolvency.

National Debtline – National Debtline is a free, independent and confidential debt advice. It is run by the Money Advice Trust, a charity that offers financial advice and assistance to the general public.

Step Change – One of the leading UK based debt charities, offering advice on effective remedies to debt problems.

Debt Advice Foundation – A specialist debt charity that offers free, impartial advice on debt to over 10,000 people per year.

05/11/2015 By property

How to stop repossession of my house

There is another way

Often we see people asking ‘how to stop repossession of my house?’ the answer can be complex and will require a great deal of thought and advice. At Barry Home Buyers we are in a position to help you either delay repossession or stop it all together, we have the funds available to purchase your house for cash – alleviating your debt situation.

We are able to help all sorts of people that for one reason or another are facing repossession and have tried selling their house through more traditional methods, only to hit a brick wall. Often estate agents have not been able to find a buyer or pressure has been applied by the lender to sell the property in a shorter time scale. Whatever the reason, we can help as we have the funds readily available to purchase a property – in any condition – for cash. In the majority of cases we can complete a sale in 28 days or less.

Although selling your house is a tough decision to make, you are often better finding a method of selling and avoiding repossession, otherwise you may find yourself in a position that a future mortgage is unobtainable. You must act fast if you are in this situation and explore every potential fix.

Where to find help and advice

If you are in a position where you think your house may be in the line for a repossession then the best thing to do is ask for advice on the different ways that you are able to either postpone or avoid repossession. Selling your house to Barry Home Buyers is just one method, however there are a number of different ways you can approach potential repossession and there are a number of organisations that are there to help you. You should seek proper advice and take actions based on that.

Below are some useful websites that will give you access to much needed advice, if you are in a repossession situation.

Citizens Advice – The go-to for advice on civil matters in the UK. There is an in depth section on Mortgage Problems as well as access to their free, impartial advice at local centres and through a national helpline.

Shelter – A charity who look to help with homelessness, they provide advice on how to avoid repossessions and give an alternative place to turn to for advice.

National Debtline – A good place for impartial advice on how to alleviate the stress of being in debt. The website is run by the charity Money Advice Trust.

UK Government – The UK Government website offers advice on the proceedings of a repossession as well as further links to organisations that will be able to assist you.
If you are in a situation where a repossession is possible, you must act quickly to avoid being made homeless and seek advice. Do not try to hide from the debts, or wish them away as you will find yourself in a worse position.

07/07/2015 By property

Relationship Breakdown and Mortgage Arrears

When Only One of The Joint Owners Want to Sell the Property

It is a common misconception that repossession is only something that is of concern to the low paid. A terrible misconception really.

Here is the story:

A young professional woman contacted us to ask for our help with regards to a property she jointly owns with her ex. They separated over 6 months ago, she moved in with a friend and they agreed he would stay in the house and continue to pay the mortgage. It was quite an amicable split, which seemed to suit them both as there was a high penalty for paying off the mortgage at the time. Mortgage arrears

To cut a long story short, the women decided it was time to buy a place of her own so looked in to how best to free herself from the existing mortgage. She was shocked to find her ex had not paid one single mortgage payment since the day she left. The court date for a repossession hearing was already set, yet it was the first she became aware of the situation. She was shocked, appalled and furious as you can imagine.

It turned out her ex was more upset about the split than he let on, and it seemed revenge was best served in the red. “I hope it [the house] does get repossessed, so you will never be able to have your own house again”. Clearly this was not going to be a straight forward cash sale!

Our first course of action was to put Ms X in touch with a good local family solicitor who would provide free legal aid to help her obtain a court order for the sale of the property (as both names where on the mortgage and he was not willing to co-operate). Simultaneously we drafted a cash offer in writing for her to show to the bank that she was serious about selling the house and clearing the debt.

It took just over a week to get it all cleared up, then the cash was transferred, the mortgage paid off, and what was left over got split between the two. Ms X planned to put her share down as a deposit for her new house.
A good result I am sure you would agree!

If you are looking for more details please fill in the form you please call.

30/06/2015 By property

How to sell your house quickly in South Wales

There are many reasons why someone would choose to sell their property quickly in Barry and opt to use a ‘quick house sale’ company include wanting access to ready cash or to sell an inherited property.

The beauty about using such a firm for a quick house sale is that the entire process can be completed within weeks.

Obviously, the firm buying the property will be doing so at a discount and not at the full market rate but that’s a small price to pay for the convenience and promptness of the transaction.

An honest and transparent quick house sale company

As the leading quick house buying company in Barry, this is a sometimes controversial and emotional images (3) subject for many people and the situation has not been helped by disreputable companies taking advantage of people looking to sell their home quickly.

That’s why we are proud to be an honest and transparent company who make genuine offers to buy a home quickly that are realistic.

You won’t find Barry Home Buyers trying to pull off that well-publicised trick of offering a decent amount to buy a home quickly and then vastly reducing it at the last minute, often leaving a homeowner with little or no opportunity to decline.

Not only do we disapprove of such tactics we would be embarrassed to be accused of doing the same thing ourselves.

Discover more information about quick house sale firms in Barry

We are happy for people to question us about our processes and offers; we have nothing to hide and would welcome a conversation with anyone interested in looking to sell their house quickly.

Indeed, we appreciate that many people are looking to sell their home as quickly as possible because they may be in some sort of financial trouble and are looking to clear their debts.

However, one of the most common reasons for selling a home quickly is to avoid repossession and here at Barry Home Buyers we can move quickly to buy a property up to 24-hours of a repossession taking place.

Other clients may be selling their property quickly because they have to move for a new job or emigrate for some reason, or they may need to move for health or age reasons.

Another reason why people decide to sell property quickly without using an estate agent is because their relationship has broken down or they are looking to divorce.

Avoid repossession of your home with a quick sale

Essentially, using a firm for a quick house sale is growing in popularity and it’s also another potentially profitable route for selling without using the traditional estate agency route.

With us, the fees that we charge are always clearly defined and we will never make a false property valuation in a bid to get a client to sign a quick house sale deal with us.

For anyone thinking of selling their property quickly we would encourage you to seek independent advice when using a firm for quick house sales before committing to a deal.

Remember too to get everything in writing to ensure your quick house sale transaction goes without a hitch.

Above all, choose a firm that will recognise that this could be an emotional process and that they will be sympathetic and understanding and that firm is Barry Home Buyers.

Need to sell your house fast in south wales? www.barryhomebuyers.com then contact the experts who will offer expert guidance and an honest quote to buy your property as quickly as possible.

22/06/2015 By property

Important Tips for landlords when legally preparing a house to rent

When renting out a property there are a few things you need to consider. Some are a few requirements few the bank others can be by law and you could end up in jail if you don’t follow them.

You need permission for letting. If you have a flat that is held under a rental agreement, you need permission from your leaseholder. If you have finance on the property, make sure its the right finance. In most cases it needs to be “Buy To Let” finance. As if it not, it could invalidate your insurance. Of which could also be a breach of your finance terms and conditions.

You need planning permission. This is suitable if more persons lease the place and they are not members of the same family. In this case, the property is converted to an HMO.

Don’t get caught out

In case you need to perform building work to the house, you need permission under the building regulations. You need to be aware that building regulation and planning permission are different things; you apply for them individually.

In case of any gas appliances, you will need a certificate. The appliances are checked by an engineer who needs to be listed with the Gas Safe Register. You need to do this before the tenants move in and you will also need to handle them a certificate copy. For more information, please contact your local Health and Safety Executive.

Make sure to offer product safety regulations. For example, the furniture must adhere to the Furniture and Furnishings Regulations. Any electrical equipment must be protected; make sure you don’t have any damaged wires or plugs. If the property is an HMO, you should check the electrical wiring on a regular basis. The property needs to be verified every five years in order to receive the Energy Performance Certificate. It’s your obligation to give this certificate to the tenants before they move in.

It’s your job to provide a safe property; you need to verify that everything you offer is secure. For further information, please contact your local Trading Standards Office. You will need to have an insurance cover; the general household insurance is enough.

It’s always best to keep records and to take care of all the guarantees, certificates and receipts. You can also keep a list of all the furniture, products and equipment and note their general condition, so you can easily check them when necessary.