Monday 22nd November 2010 - Published by Lara Page - Account Manager
Local expert offers hope against threat of repossession
HOMEOWNERS are urged to be aware of their rights, as repossession continues to pose a threat for many.
National Week of Action on Empty Homes, which takes place this week, has spurred real estate specialists, Hazel Property Group, based in Barry, to voice its concerns about the unnecessary and unwarranted level of housing repossessions still blighting the UK.
Since the economic crisis began, the UK has witnessed a surge in the number of homes being repossessed. Yet in many cases, this could have been avoided, if only homeowners had been aware of their rights. Murray Crichton, founder of Hazel Property Group explains:
“During the last year, we’ve been shocked at the rising repossession rates in the UK. What has been even more shocking is the fact that many of these could have been avoided. It appears that many people simply bury their heads in the sand until it is too late to do anything.”
Murray suggests that if people took just a few simple steps they could easily avoid repossession in most cases:
“As soon as homeowners realise they are struggling to make their payments, they should always approach their lender and make them aware of the situation. Often a payment holiday can be arranged, or even altering the terms of the mortgage is possible. However, the most important call for anybody should be to seek legal advice or contact the Citizens Advice Bureau.”
With National Week of Action on Empty Homes taking place this week, Hazel Property Group’s advice is a ray of hope for those seeking to slow the rise in the level of empty properties currently on the market.
Week of Action on Empty Homes - a pr2go story
