‘Buy-to-Let’ property stress
Bell & Company finalise successful negotiations on a buy-to-let property.
An older couple based in England approached our company regarding a property they had bought to rent as a holiday home in the south of the country. The lender was known to be notoriously difficult to deal with, so this was an ongoing battle between the lender and Bell & Company’s strategists.
When liaising with the client initially it was a mutual decision to put the house on the market, and the couple were left with a shortfall of just over £60000.
Although a substantial amount of money, these “average” shortfalls may be tricky to settle, especially at a low percentage. However, this was not a manageable debt for the couple in question, who were desperate to move on with their lives.
Negotiating with a difficult lender, or one whom may be reluctant to make “deals” can be an extremely lengthy process. In this instance, however, our clients were in a position to offer £8000 in full and final settlement, just short 10% of the debt.
The couple couldn’t have been any more complimentary of Bell & Company’s professional, yet warm approach, and have now been able to enjoy their retirement without the burden of property debt.
If you find yourself facing issues surrounding property debt, feel free to contact us.
Our team will endeavor to answer your queries within a few hours of receiving your inquiry. If your query is of an urgent nature you can call our office directly on 02895 217 373 or speak to a member of our team via live chat. We offer a free consultation and full financial review.