Paying your mortgage or rent by credit card? Beware the risks

According to recent research by housing charity Shelter, a disturbing number of people are being driven to use credit cards to pay their mortgage or rent.

It is estimated that around one million people are relying on their credit cards to meet mortgage repayments or pay their rent to avoid losing their home. This amounts to approximately 6% of all UK homes. The implication is that repossession figures – and in turn homelessness - could increase substantially over 2010.

Commenting on this news JB Property Solutions director Jim Barber says, “It seems that it’s not just lower social groups that are succumbing to using credit cards to cover their rent or mortgage repayments. The recession has impacted hard upon the middle classes too – but increasing credit card debt cannot be the solution.”

JB Property Solutions - and its competitors - offers cash for houses in Northwich, Cheshire and the North West. Surely a viable alternative to running up huge credit card bills and the threat of repossession?

Barber continues, “Cash for your house in Northwich or anywhere in the North West could provide the solution to escalating debt, which is always a slippery slope.”

“By purchasing houses for cash in Northwich for example, we can help home owners to quickly resolve their financial troubles. Debts may be repaid and they are in a position to downsize or choose more affordable housing options.”

If you’ve been trying to sell your house fast in Northwich to no avail and have resorted to credit card mortgage or rent repayments, cash for houses in your area could the credit crunch answer to credit card overload.

Contact JB Property Solutions to find out more about selling your house fast in Northwich or cash for your house in Northwich.