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Archive for May 2015

“Real Issues in today’s Financial World”

Buy to let properties

Bell & Company and  FD Clarity are proud to present our next networking seminar on Tuesday 9th June 6.30pm- 9pm. Join us and our guests for some nibbles and drinks and use this event as a way to meet experts in the Finance Industry and gain new clients as well as get advice and key…

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Cerberus and Ulsterbank- Loan sales- What is going on!?

Cerberus and Ulsterbank

In late 2014 it was announced that Cerberus had purchased Ulster Bank’s giant non-performing Project Aran loan book. Cerberus paid £1.1bn for Project Aran which has an unpaid loan balance of c£6bn. The transaction completed in the first quarter of this year and Cerberus and Cerberus Capital management have started to work away. Project Aran…

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You Can’t Delay the Inevitable

financial crisis

Given the nature of our work at Bell & Company we continually meet clients with mortgage difficulties despite the historic low interest rate set by the Bank Of England. This clearly demonstrates the reckless lending pre-crisis of 2008 of which many have fallen foul. Many borrowers are currently getting by but must be aware a…

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Banks that veto debt deals face being overruled by the courts

Ulster Bank

Courts will be given new powers to overrule banks that have vetoed debt deals, as part of the Government’s long-awaited mortgage package. Senior ministers are close to finalising a detailed set of proposals which include an appeals process for homeowners whose debt deals have fallen through. The so-called ‘examinershiptype’ model will be able to enforce…

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Irish Banking Inquiry: 100% mortgages ‘were detrimental’

NI housing market

The former chief executive of Ulster Bank has told the Irish Banking Inquiry that promoting 100% mortgages was a “detrimental initiative”. However, Cormac McCarthy denied that the bank was the first in the Republic of Ireland to offer the product. Ulster Bank’s First Active subsidiary began marketing 100% mortgages in the summer of 2005. He…

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