Net a house bargain with new website
Homebuyers who can get a mortgage have been making the most of the credit crunch by snapping up repossessed properties.
And a new website - www.whitehotproperty.co.uk - will make it easier for them to grab a bargain without trekking round auction houses and agents.
When an offer is made on a repossessed property, the mortgage company has to try to get the best price by advertising it for a further seven days - which is where the site comes in.
It also highlights chain-free properties which have been priced to sell. One in four also has an extra incentive to lure buyers such as cash towards a deposit or no stamp duty.
Robin King, director of whitehotproperty, said: "Our seven-day notice feature is designed to ensure that repossessed properties achieve the maximum realistic price, which is in the interests of the borrower and lender."
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