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Our clients in this situation were a working family with two young children.
They bought several investment properties before the crash,which had subsequently fallen into negative equity.
This was a huge financial burden on the family and they were struggling to maintain mortgage payments on all properties.
The couple appointed Bell & Company to negotiate the sale and final shortfall of the properties.
The property in question had been sold and the couple were left with a crystallised shortfall of £95,000.
After protracted negotiations and the cooperation of the lender, a full and final settlement of £10,000 was accepted.
The couple were understandably relieved as they can now move forward without this unaffordable debt hanging over them.
To read more about how we can help those in negative equity, click here: