£16,000 Settlement on £100,000 Mortgage Shortfall

By on May 26th, 2017

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£16,000 settlement on £100,000 Mortgage Shortfall

This case was quite complex in nature from the onset. Our client approached Bell & Company with a property that he could no manage to repay due to an uncertain financial situation he came into. The property was in severe negative equity with mounting repayment costs.

Due to the uncertain future of his financial situation the gentleman wanted to settle the debt with the lender, however with the property being in significant negative equity, the shortfall was far too much for him to pay. After a consensual sale of the property the shortfall was £100,000, which led us to enter negotiations on the balance with the lender.

During this process, the situation became complex as lender had changed protocol in dealing with negotiations, which created obstacles in reaching settlements. But with sheer persistence and application of various strategies we successfully managed to expedite matters through to a point of full and final settlement, settling the £100,000 shortfall for £16,000. A 16% settlement figure which saved our client £84,000.

Sensitivity of this case was heightened around personal issues which made ultimate conclusion outstandingly lifechanging for subjected client.

Like all cases at Bell & Company our team where very hands on, but in this case when faced with obstacles from the lender, our team devised new strategies and became even more determined to get the best deal for our client, which is a testament to our success. Expert Negotiators with a wealth of experience in dealing with many types of lenders.

If you are experiencing similar issues and need assistance in property debt, then call us today. Our negotiators are experiencing excellent settlements even in times where lenders are changing their protocols.

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