Are You Struggling After a Change in Your Financial Circumstances?

Looming Debt

We are here to help! If you are facing a significant financial burden, we can help you find ways to alleviate that burden. Andy has worked with numerous homeowners who are looking for a fresh start, and can help you to figure out the best choice for your circumstances.

Sell Your House and Become Debt Free

The question we get the most often is: “Can I sell my house to get out of debt?”

For many homeowners, the answer is yes. In many instances, selling your home will help you to re-balance your personal finance situation; allowing you to clear your mortgage, downsize to a smaller, less expensive property, and put the rest into clearing high-interest consumer debts. You will be left with no loan, credit card or finance payments and a smaller mortgage.

What Not to Do:

The housing market is unpredictable, and depending on when you bought your property you may be in negative equity at the moment.  If your debt situation is severe, and you can’t even make your mortgage payments, you might be tempted to just hand back the keys, leave the property, and rent somewhere. Do not do this. You will still be responsible for the costs of the mortgage until the lender sells the property, which could take a while, and the lender may sell the property for less than it is worth, leaving you with some debt and no house.

Keep control of your situation. Don’t wait to get evicted.

Principal Homebuyers can help you to get a good deal on your property, and even if a court hearing has taken place and a repossession order has been granted there is a possibility that we can help if you act quickly.

If you are able to release some equity through the sale of your home, think carefully about how this will affect your finances. Remember that if you are not working and you come into some money from the sale of your property, this windfall could affect your right to claim benefits.

Even if you live in an ex council house, or if you have been told that your home is “un mortgageable”, get in touch with us. We may still be able to help you, and our services will save you solicitor’s and broker fees.

Refinance for a Second Chance

In addition to helping people sell their homes to get out of debt or pay off debts. We also help people who are looking to refinance or get money quickly. Sometimes, selling your house is not the best option. If you cannot downsize because you still have a large family, because of your income or you need to stay in a specific area for work, then it might make more sense to look at a new mortgage. It has be the right time for you. Paying off your mortgage can be a great relief – money management is a big part of modern life. We can help you get hold of yours – to help boost savings, pay for retirement, or just manage your financial situation better.

Adding consumer debt onto your mortgage will often make the debt less expensive. You will enjoy lower interest rates and a smaller monthly repayment. As long as you do not then run up more high interest debts, this can be a great solution to a difficult problem.

Give us a call today to learn about your options. You can take control of your finances once again.

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