Why Regal Property Services?

Allow me to introduce myself. I am Silas J. Lees, and I am the founder of Regal Property Services.  I have been working within residential property from a very early age and have spent ten years of my working life in the property sector. You can find out more about me and my experiences by signing up for our free guides.

I am a qualified Chartered Building Surveyor and a member of the Royal Institution of Chartered Surveyors (RICS). As part of the membership and ongoing training involved to become a professional surveyor, I have agreed to act in accordance with the RICS’ nine principles of self-regulation which include the need for honesty and integrity in all of my dealings – so you can be assured that I will deal with you fairly.

Recently, the rise in interest rates in the UK has had the impact of creating uncertainty within the housing market. Many people who were lucky enough to obtain fixed rate mortgages between two and five years ago have suddenly found their fixed rate term expire and consequently having to absorb four or five interest rate rises in one hit. Not surprisingly, many people have found themselves in financial difficulty and unable to meet their mortgage repayments.

The Council of Mortgage Lenders estimates that nearly 23,000 homeowners a year are in this situation and are facing repossession. They also estimate that repossessions have risen 30% since the start of 2007 – a startling statistic!

For most financial institutions, repossession is usually the last course of action they will take and we would actively encourage you to speak to them and advise them of your current financial difficulties. However, it is worth bearing in mind that when you take out a mortgage against your property, you are personally responsible to ensure that money is paid back. So, even if the bank repossesses your house and then sells it at auction, if it doesn’t achieve a figure that covers your outstanding mortgage plus the costs incurred, you may still have to pay the difference!

If you are facing repossession – we can help! We would strongly urge all homeowners in this situation to avoid having your home repossessed at all costs.  Being repossessed will effectively “blacklist” your credit rating with a potentially devastating impact on your life.  However, there are other options available to you and we can assist. Please click here to find out how.

Alternatively, you may be a homeowner who is moving abroad and want a quick sale; you may want someone who can repair a broken chain in a normal house sale; or you may even be a council tenant who wishes to take advantage of a right to buy option without even buying their home!  Whatever your situation, we can help – please contact us.