Options & Solutions for Negative Equity

By on January 30th, 2017

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Bell & Company Offer Options & Solutions for Negative Equity 

Right across Ireland, Northern Ireland and the rest of the UK, homeowners are still as vulnerable as ever to negative equity.

Back in 2015 it was reported by The Guardian that a couple from Northern Ireland paid c£700,000 for a luxury home in a good area back in 2007 when the property market was at its peak. After being struck with the recession they were forced to sell their home, taking a huge loss of £410,000. Stories like this are day to day here at Bell & Company, with thousands across the UK and Ireland finding themselves in very similar situations looking for solutions for negative equity. Since 2008, property prices are far from what they were, in fact in Northern Ireland and North England today they are a fraction of the cost.

It seems like these issues are predicted to stick around for the near future as Economics Editor Kamal Ahmed (BBC) identifies in the upcoming separation from the European Union will impact all sectors of the economy. As we approach Theresa May’s March deadline to trigger Article 50, the rate of inflation raises due to the value of Sterling declining, which will affect people’s real incomes, investments are being delayed and jobs are moving out of the UK and on to the continent in sectors such as banking and finance.

Effects of 2008 Crisis

The crisis of 2008 has negatively affected the economy longer than expected and with Brexit lingering it is too early to predict the state of the UK economy.  Regarding problematic properties for many of our clients it seems like there are no options & no way out; being served letters from the Banks demanding money, scraping by day to day to pay for household essentials or even dealing with a breakdown in relationship; forcing them to sell their property.

If any of the below are familiar to you contact Bell & Company to find out the best options available for you.

  • Is your Mortgage worth more than your property?
  • Are you working through a divorce but your home is in negative equity?
  • Struggling with repayments and in arrears?
  • Wanting to downsize?

 

The options available

At Bell and Company we have a highly-specialised team who deal with all aspects of property associated debt. We pride ourselves on providing options for our clients who at times, find it hard to make informed decision when burdened with debt. Negotiating with Banks is our speciality and our methods in doing so are second to none. We work with you the client to assess your entire situation and provide tailored options to get you the best outcome possible.

Our  expert team of Debt Strategists at Bell & Company provide Impartial and tailored advice to suit your circumstances. Contact us today for a free consultation on 02895 217 373 or contact us  where we can quickly review your case and point out your options.

For more information on options & solutions for negative equity please visit our negative equity page

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