Live in the North? Sell House Fast!

Sell house fast schemes may  be more popular in the north as a wealth study find the north-south divide is still very much alive.

The north south divide should be something of the past. After all, the north doesn’t rely on industry or manufacturing. Empty mills have been transformed into offices for net savvy companies and art galleries. So why are sell house fast schemes more likely to be in demand in the north than in the south?

Sell House Fast Schemes Boom Up North

The reasons why many homeowners opt for sell house fast schemes is because finances are tight and they are unable to keep up with their mortgage payments. And it seems repossession figures and unemployment are higher in the north than in the south. The Times newspaper reports on a study into the North-South divide that reveals the gap is still very much ingrained. The Office of National Statistics found that the average household wealth in Scotland was almost half of that in the South East. It’s not surprising that sell house fast schemes are more popular in the north of the country as more homeowners struggle to keep their financial heads above water. Property rescue companies have stepped up a gear since the recession as homeowners struggle to stop repossession and eviction orders.

Property Slump Hits Home

The median net wealth per household in the South East is £287,900 (excluding mortgages and other debt), whereas in Scotland, it’s almost half that at £150,600. The North East and North West were also way behind the South with median net wealth at £169,500 and £168,200. The wealth and assets survey from the Office of National Statistics shows that the North suffers more than the South – also witnessed in the widening North/South gap in property prices. Slumps in new build property prices in inner cities such as Manchester and Leeds have seen a slew of sell house fast schemes after prices fell by as much as 50%. The rise in sell house fast schemes is reflected in the fact that property millionaires in the North East are said to be the hardest hit in the affluent sectors – the number of property millionaires in the region has dropped by a massive 83%.

Wealth V. Debt

The report showed that property however still represented the biggest proportion of wealth in the UK. But holding onto property was another thing. The ONS report found that: 35% of people questioned said they had never saved any money; 48% had an outstanding unsecured debt: “If you include all financial commitments, 10 per cent of all households were in arrears for at least one commitment,” the ONS said. For those who fall into mortgage arrears, sell house fast schemes could offer one way out of the repossession trap.

Are you looking for a Sell House Fast scheme? Get help and advice from Move Quickly, call today on 01302 722 900.