I read in the news paper today the house price in the UK fell by 0.9% in June, Nationwide building society said today, and are dropping at their fastest rate in 16 years. Is that amazing?
Let see the stat ( Guardian, 2008)
The average price of a home in the UK has fallen by 6.3%, or £11,500, since last June, and by 7.5%, or £13,629, since reaching a peak last October, according to the figures. It now stands at £172,415.
* you can't sell your house any more...too low price. It even lower than what you bought.
* You can not get mortgage
* You can not wait for someone to come buy your house coz no one have money to buy it.
People need money so people that have house go to get loan--secure loan...Home owner loan.
Very popular on TV..Will you get it though? With the credit crunch, will they give the home owner loan to people that cant sell their home...Horrible. If you have good credit, you may get that loan...If you have bad credit, so you want home owner loan for bad credit!
So who give it to you? I am not sure..You can google it and it will come up...
But let me warn you for these loan people, secure loan or unsecure loan, bad credit loan,loan for bad credit, home owner loan....they never let you go...you contacted them...they will keep your details forever...I asked for loan for bad credit like last year...they kept my details forever...OH MY GOD.....
Think before call them...but if you really need bad credit loan...you can find it I am sure but you may pay 10,000 APR...for real I saw it...
Why? Welcome to the UK!

