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Cheap property opportunity as repossessions increase

The number of repossessions in the first quarter of this year has surged when comparred to the same period of time in 2007. The figures which have been obtained from the Minestry of Justice are showing a seventeen percent increase on 07. Over 27000 repossession orders were made in the first qurter of 08 with a similar increase in repossession claims. It seems clear that the rising cost of living including rising fuel costs and food prices compounded by increased payments required as consumers fall out of introductory periods mean consumers have less spare money to play with and those who have built up other debts on credit cards and store cards are really feeling the pinch.

It is not all doom and gloom though. Those who have been financially prudent are now looking to take advantage of the market conditions and now is the perfect opportunity to get a really good property deal. With many house owners falling fowl of gazundering which often rears it's ugly head in a falling market it is possible to place offers at below market value and offer the consumer the protection that a deal can be completed quickly. Falling market conditions and repossessions offers much opportunity for the determined house buyer.

09 May 08

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