(PRWEB) July 12, 2014
Jon Cunliffe, the Bank of Englands Deputy Governor for Financial Stability, revealed that high volumes of new mortgages taken up to buy property for sale could make the economy vulnerable to shocks, au.news.yahoo.com reported on 3 July 2014.
In response to this property news, Rick Otton, a highly-sought after property coach, encourages UK residents to seek out old mortgages instead, to de-clutter the market.
Buyers around the UK should realise that the average house price in the country is now 12 per cent higher than last years recorded value. Mr. Cunliffe explained briefly in his speech that this fast-paced increase in house prices coupled with a turtle-paced growth of average incomes are the main reasons why lending is so popular right now. People are turning to banks for financing, because the money they have just isnt enough to purchase a property for sale. Unfortunately, like what Mr Cunliffe pointed out, having huge amounts of debt circulating in the market isnt healthy for everyone, so people must look for alternative routes into the real estate market without weakening the economy, according to Mr. Otton.
One notable example of alternative property solutions, that pose no threat to the economy, is seller finance strategies. This solution is an advisable and stable alternative to the traditional process, since it helps people purchase houses for sale without applying for new mortgages or saving up a huge amount of cash for a deposit fee, he added.
Mr. Otton reaffirmed this message in one of his latest interviews for We Buy Houses Radio explaining that home buyers and property investors should start adapting newer processes, because it would make the system more sustainable.
The trend is to move away from debt and into stable income streams after the global financial crisis. People must realise that the financing is already there and the difference between the old world and the new world is anybody can pay for somebody elses debt if you just drop the right forms in, he shared.
Visit http://www.rickotton.co.uk/ today to get more information about creative seller finance strategies and how these strategies can be applied in changing market conditions.
About Rick Otton
Rick Otton is a property investment professional who, over the last 23 years, has introduced innovative real estate strategies to the UK, Australian and the United States. His creative low-risk, high-reward approach to buying and selling houses is exemplified in his own business, We Buy Houses.
This year marks the 10 year anniversary of Mr Otton introducing his strategies to the UK, and the 5 year anniversary of his innovative Buy A House For A Pound process one that attempted to be emulated by others. His constant process of strategy refinement, and adapting to the ever-changing real estate market, continues to place him at the forefront of property investment education.
In 2012 Rick Otton published his Australian book How To Buy A House For A Dollar which was named in the list of Top 10 Most Popular Finance Titles for 2013. A UK version is on the drawing board for publication in 2014.
Mr Otton freely shares insights into his non-bank-loan strategies that have allowed everyday UK men and women to beat the rental cycle and have their own homes. He coaches others on how to build profitable businesses by facilitating transactions that focus on the needs of potential buyers and motivated sellers.