House buying companies

[NotOnMyWatchSunshine]

Has anyone ever used one, or know how it works or anything at all. My buyers buyer has just pulled out at the LAST second and I am desperate. My seller may put his back on the market and I can't risk it. I'm a single mother with a gigantic mortgage that I cannot physically pay and I am terrified. Any help would be really appreciated.

We used one to sell my MILs flat - they will pay well below market value.

When you say "well below" are we talking tens of thousands?

Out of curiosity when our sale fell apart we looked into it - we buy any house offer up to 80% of the value, really wasn’t worth it. We sold again 6 weeks later but the house we wanted had old again.

So if your house is for sale for 250k the upper most they would offer is 200k most of the time they offer around 60-70% - from our experience they tend to prey on the vulnerable.

Yes to tens of thousands - cant remember the numbers now but because we needed to sell quickly we accepted at least £50k less than market rate.

Have you spoken to the bank about your mortgage problems; you can evidence you are genuinely trying to sort this out and they may be able to offer you an interest only period or mortgage holiday for a short while. It's in their interests to help as it will cost them money to get you out if you really can't pay and don't leave voluntarily (court/ legal fees)