Selling a House at the end of an Interest only mortgage term

Are you on an interest only mortgage? Is it coming to the end of its term? 

This is a very difficult situation for many people throughout South Wales.

Interest only mortgages were really popular prior to the financial crisis in 2007 and 2008. Many people took on between 15 and 20 year mortgages in the late 90’s and early 2000’s, which are now at the end of term. 

If you haven’t got a way to pay off the mortgage, meaning you’ve got no repayment plan or anything similar to this in place, you will be put into a situation where you will need to sell the property. 

We are often contacted by vendors who have been sent notice by the mortgage lender that they have either got to pay the balance, or sell the property, because the actual loan needs to be settled. 

Mark King Properties can help you with this. 

I can come out and have a look at your property, and I will be able to give you an immediate cash offer. We can arrange to complete a sale within a time frame that suits you. For instance, if you want up to three months from the initial offer, this isn’t a problem. 

We are also able to make it possible to exchange contracts with you early, and release some of the money to you. This can be upto 10% of the purchase price, so that you’ve got money to pay your rental advance and your deposit for instance, if you are moving into rental. 

Whilst the process of your sale with us is underway, we work closely with a team of excellent solicitors who are very used to dealing with this kind of situation. If you have come to the end of the term of your mortgage, meaning that the date that you are due to make your last payment has already passed, our solicitor will contact your lender on your behalf, and reassure your lender that the property is sold and is being taken care of, putting your mind at ease. 

We have successfully dealt with hundreds of transactions through our trusted solicitors;  

Insight Law in Cardiff.

They have extensive experience, especially dealing with us as the buyer, they help to assure you that the price with us is fixed, meaning that we are not going to reduce the agreed price before completion, and that we are able to complete on the agreed day. 

It is very important that your lender knows that they have a proper exit plan at this point. This outcome will prevent the lender from going to court, and applying for possession of the property from you. 

If you are in that situation, and you are looking to sell your property, please get in touch. You can click the link below to fill in the online form, or you can contact me using my office number on 02920 501 001.

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100's Of Happy South Wales House Sellers

Mark King Properties has helped over 800 house sellers in South Wales

Carol Dowding We Buy Any House South Wales Reviews
I was selling my late dads house, and I just needed to sell quick, due to grief, and Mark, just made that so easy. No hidden charges and such a fair price. Couldn't believe it was all sorted with the money in my bank in 2 weeks. Yes guys I did say 2 weeks. So you know who to go for a quick sale. Mark King Properties. Amazing. So satisfied.
Jeremy Augustin We Buy Any House South Wales Reviews
Excellent Service, Very Quick Turnaround, Always Kept Me In Formed And Up To Date. Very Highly Recommended. Very Professional And Polite, And Very Helpful. Thanks For All Your Help and Everything You Did For Me Mark And Nikki. From One Very Happy Client. Regards Jeremy Augustin Of Caerphilly
Leanne Dormer We Buy Any House South Wales Reviews
I met Mark at the initial appointment and I found him approachable and straightforward and not under any pressure to accept the offer. The staff are friendly and professional and once I decided to sell the process was very quick. Would recommend.
Julie Beynon We Buy Any House South Wales Reviews
Just completed on a sale of an inherited house, when mark first visited he was not pushy and gave me a few options which were left open for me to decide, when i made my decision one phone call and everything was put in place with very professional, polite staff would definitely recommend mark king properties.
Mini Lawro We Buy Any House South Wales Reviews
I contacted Mark King Properties as I had a rental property I wanted to sell. I had to evict the tenants as they were behind with the rent for several month. The property was left in a bad condition. After visiting the house Mark made me an offer which I thought was very reasonable. The sale process was painless and very quick. I would highly recommend Mark King Properties.

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