Across Ireland, Northern Ireland and the rest of the UK, homeowners are as vulnerable as ever to negative equity.
The Guardian reported that a couple from Northern Ireland paid c£700,000, for a luxury home 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 at Bell & Co, with thousands of people across the UK and Ireland finding themselves in very similar situations. Since 2008, property prices are far from what they were. In fact, in Northern Ireland and North England, properties are a fraction of the cost.
It seems like these issues are predicted to stick around for the near future. The rate of inflation raises, due to the value of Sterling declining, affecting peoples incomes. Investments are being delayed and jobs are moving out of the UK in the banking and finance sectors.
Effects of 2008 Crisis
The 2008 crisis has negatively affected the economy longer than expected and with Brexit lingering, it is premature to predict the state of the UK economy. Regarding problematic properties. Many of our clients feel like they are out of options with no way out.
Contact Bell & Company to find the best options available for you. If…
- Your Mortgage is worth more than your property?
- You’re working through a divorce but your home is in negative equity?
- Struggling with repayments and in arrears?
- You’re Wanting to downsize?
The options available
Our specialised debt strategists team deal in all aspects of property debt.
We pride ourselves on providing options for our clients who, at times, find it hard to make an informed decision, when burdened with debt. Negotiating with Banks is our specialty and our methods in doing so are second to none. We assess your situation and provide tailored options to get you the best outcome possible.
Our Debt Strategists team provide impartial and tailored advice to suit your circumstances.
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For further information on options & solutions for negative equity please read our Negative Equity Solutions brochure