House Sellers Are Struggling With Brexit’s Doom And Gloom
The property market is an uncertain, tumultuous place following the UK public’s vote to leave the European Union, says property company National Homebuyers.
The UK business, which offers cash to homeowners wanting to sell property fast, has heard from both sellers and estate agents that it has quickly become more of a struggle to find buyers in the open market. This is partly due to a lack of confidence on the part of investors; and partly because it appears to be getting tougher to obtain funding from banks.
The post-Brexit vote financial world has seen City property funds barring investors from withdrawing their cash, while the Bank of England said that risks to the system had begun to ‘crystallise’. Furthermore, the pound sank to its lowest value in over three decades against the dollar. Against the Euro, Sterling hit its lowest level since 2013; and shares in banks, house builders and supermarkets took a worrying dive.
It is therefore understandable that people are cautious about making huge, life-changing financial decisions such as house purchases. In other cases, UK sellers are nervous about being stuck in long and unreliable chains, as buyers battle to secure the necessary funds and processes slow down even further.
However, sellers do have the option of approaching a home-buying organisation, as such businesses are more prepared to take on the risk of rapidly falling prices – still purchasing homes and flats regardless of the uncertainty created by Brexit.
A spokesman at National Homebuyers, said:
“A lot of homeowners were worried about what the EU referendum would bring in its wake – and for some, their worst fears are now being realised. Not everyone is able to wait to sell their home, instead needing to sell quickly because of personal struggles with finances, or health, or changing a job or school.”
“Some areas will avoid the doom and gloom, of course… but for anyone with a house located in a less desirable area, or in need of repairs they can’t afford, options to sell are suddenly even more limited than before. National Homebuyers, who specialise in sell your house fast cash offers, will still purchase any property regardless of its condition or location within the UK, so there is some comfort for home owners who wish to sell their property in these volatile times.”
ABOUT NATIONAL HOMEBUYERS
National Homebuyers is based in West Sussex and purchases high volumes of homes for cash every week. The company guarantees to buy any property in any condition and in any location, enabling owners to move on quickly. It also works with estate agents, house builders and property professionals through an Approved Partner Network, helping to repair broken chains and broker part-exchange deals.
More information: https://www.nationalhomebuyers.co.uk/