Posts Tagged ‘Mortgage Shortfall UK’
First-time investor left with large shortfall
Bell & Company were contacted by a first time investor who had been left in negative equity on his home. This was the gentleman’s first time investing in property, and unfortunately, just took out a mortgage at simply the wrong time, and had the possibility of insolvency looming over him. At Bell and Company, over…
Read More‘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…
Read MoreUnaffordable Negative Equity Property
Like many since the financial crash, our client came to us in a position where they could no longer manage to repay their mortgage due to the continuing and difficult financial situation they were in. With an outstanding balance of £120,000 on the mortgage, the property was found to be in severe negative equity after…
Read More‘Low’ Mortgage Shortfall Settlement
Our Client had an outstanding mortgage shortfall of £13,000 and needed to break free from their debt to move on with their life. Many lenders consider lower outstanding debts such as this to be deemed as ‘affordable’ over someone’s lifetime. In such a case, the lower level of crystallised debt could provoke the Lender consider…
Read MoreA Complete Guide to Negative Equity
The term ‘negative equity’ is one no homeowner wants to hear. But what is negative equity and what does it mean if you find yourself hearing those dreaded words? Since the start of the recession all those years ago, the term has been paraded around the media more than any other. The mere mention of…
Read MoreMortgage Shortfall
Property Payments This case proved difficult. It was a father and son relationship, the Father acted as a guarantor for the son on the mortgage. The son could not maintain the property payments and the property was ultimately repossessed and sold in possession by the Bank. The father and son where pursued for the…
Read MoreUK Mortgage Shortfall settled – £54,000 Saved
UK Mortgage Shortfall Our client was a Polish national who moved to Co Down area for an excellent job opportunity back in 2008. Given it was his long term intention to reside in the property for some time our client purchased a property at the peak of the market with little knowledge of the impending…
Read MoreMortgage Shortfall settled for £12,000
Mortgage Shortfall in Co. Antrim A brother and Sister purchased a Buy to Let together in Co Antrim. The Mortgage was for £218,000 but both parties were struggling to make repayments. The brother moved to Africa to seek work. The client felt that there was no other option other than to surrender the keys to…
Read MoreMarriage breakdown – Divorce Situation
Mortgage Settlement A couple from Co Down with a marriage breakdown sought help from our specialists after their divorce as they agreed it was beneficial to sell the property they owned together which forced them into Negative Equity. The mortgage on the property was for £204,000. We achieved agreement from the lender to a consensual…
Read MoreMortgage Shortfall Settlement
Mortgage repayments A Single lady bought a house in North Belfast with a £230,000 mortgage in 2006. Her mortgage repayments were £770 per month Interest only. Unfortunately she lost her job and could not afford to pay her mortgage. Bell & Company helped her through the process. The Client opted to sell the property on…
Read More