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In this situation, our clients had invested in a second property with an interest only mortgage.
However, the value of the property drastically declined in a short period of time leaving the couple with a large mortgage in negative equity.
Bell & Company were appointed to negotiate the sale and the full and final settlement of the property.
We achieved a sale leaving a crystallised shortfall of £40,000.
After lengthy negotiations a full and final settlement of 10% was accepted.
The couple were overjoyed to have the burden of this debt weighing on them.
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