Posts Tagged ‘repossessions’

Bankruptcy- What can happen?

Bankruptcy

Bankruptcy, the “B” word, is feared by many and has negative connotations associated with it. Sadly, we see many Creditors petitions in Court for borrowers being made Bankrupt by their Lender. Perhaps the stigma surrounding Bankruptcy has been reduced since 2008 due to the increase in numbers filing for Bankruptcy but it is still something…

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Can I sell if I'm in Negative Equity?

Negative Equity

Bell & Company regularly hear individuals in Negative Equity declare themselves as “Mortgage Prisoners”. This opinion is often developed from listening to poor knowledge of their circumstances and not seeking professional independent advice. The answer to the question is, YES but it depends. Some lenders will allow borrowers who are in Negative Equity to sell…

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Could I lose my home?

home

One thing we understand entirely is that home is sacrosanct to most people thus it is imperative that the situation in home is investigated first and foremost. In many instances, a Borrower/Guarantor’s home will be mortgaged with another lending institution and, as a result of the property crash, there will very rarely be equity in…

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LONDON – IS THE BUBBLE BURSTING?

london property

Bell & Company have previously written posts on the potential property bubble developing in London and the South East of England. In the last week there have been murmurs in the financial press that the bubble could indeed be bursting. London, once deemed one of the most secure property investments, is now looking shaky. A…

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NORTHERN IRELAND REPOSSESSION “HOTSPOTS”

Negative Equity

NORTHERN IRELAND REPOSSESSION “HOTSPOTS” Following the setup of The Housing Repossession Taskforce they undertook a review of the market of property repossession in Northern Ireland and identified hotspots. These are listed below: Limavady Derry / Londonderry Dungannon Armagh Omagh Banbridge Newry Carrickfergus This demonstrates a “Belfast-centric” approach to the housing crisis in our opinion. As…

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Mortgage Debt Settlement

Personal Guarantee

Buy to let property Our client in this instance was a successful director of an up and coming Joinery firm with significant turnover. A buy to let property had been repossessed and sold and a substantial shortfall accrued of c£165,000 Initially, the client in question did not believe a settlement could be achieved but nonetheless…

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