Posts Tagged ‘mortgage shortfall’
Mammoth overall savings of 92%!
Our client approached us with a crystalized debt of over £150,000, owed to a huge banking institution in the Republic of Ireland. The client had not had any contact with the said lender for almost 5 years and had relocated to England to pursue new ventures. Out of nowhere, he received letters from the bank,…
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 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 MoreNegative Equity – Mortgage Shortfall Success
Negative Equity Settlement. Our successful settlement this week comes from Northern Ireland where the property is based in an area where prices never recovered from the 2008 crash. Our client, living in the area was suffering from a significant drop in the value in their property. Unable to keep up with repayments, they considered selling their…
Read More£16,000 Settlement on £100,000 Mortgage Shortfall
£16,000 settlement on £100,000 Mortgage Shortfall This case was quite complex in nature from the onset. Our client approached Bell & Company with a property that he could no manage to repay due to an uncertain financial situation he came into. The property was in severe negative equity with mounting repayment costs. Due to the…
Read MoreMortgage Debt Settled with Savings of £40,000
Mortgage Debt Settled with Savings of £40,000 A client approached Bell & Company in early 2016 with a property that they could no longer afford to keep. The property was in severe negative equity and the repayments were becoming difficult for the client to make. Coupled with the arrears and the mortgage shortfall worries, our…
Read MoreMy home has been sold and now I have received a letter chasing an outstanding balance. What are my options?
As the various lending institutions work through their ‘delinquent’ mortgage books, more and more people are approaching us at the end of the sale process, when the lender and their agents, usually solicitors, chase and seek recovery of the outstanding amount due, after the disposal of the asset(s) involved. If a property was purchased pre…
Read MoreCERBERUS & LONE STAR PROJECTS IN UK & REPUBLIC OF IRELAND
Will an imminent rise in Interest rates make you a mortgage prisoner??
2016 – A Mini Credit Crunch? We do not mean to spread doom and gloom, but feel it is essential our clients and subscribers are aware of the ever-changing economic environment. An earlier blog eluded to a likely increase in Interest Rates in 2016, not by a significant amount but they can only go one way moving…
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…
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