According to the latest news the number of people which own the house and want to sell it in a short possible term has increased greatly. In most cases people need to sell their houses in order to retrench their debt load.

One of the organizations that help distressed homeowners to sell their assets named Property Portfolio Rescue (PPR) pointed out that since last year the number of inquiries it had received almost doubled and usually the assistance is required for people who owe a property worth £500,000 or more. The reason of such a readiness to cell the property is difficult financial situation of such property owners. In most cases they just have to change their big houses into smaller ones to have some funds available in cash, but it is necessary to take into account that due to reduction in equity the financial position of homeowner may turn out to be weak for a long-term. In most cases experts advice the homeowners to downsize their debts without reducing their equity or selling a house as there may be debt solutions more favourable for them.