Landlord With 3 Properties: £284,000 In Negative Equity
Case Resolved – Landlord With 3 Properties Totalling 284,000 pounds In Negative Equity
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The Problem: Three Buy-To-Let Properties In Negative Equity
This client, who wished to remain anonymous, had numerous buy-to-let properties in various locations and approached Landlord Debt Advisory regarding three of the buy-to-let properties he had bought at the height of the market in 2007 at the cost of almost £560,000. When he came to us, the properties had fallen drastically and were only worth £276,000, leaving him with a rather substantial negative equity value of £284,000. Even though all three properties had long-term tenants, he was still losing money every month.
The client approached the Landlord Debt Advisory team asking if we could help. We successfully negotiated the sale of all three properties. Landlord Debt Advisory also contacted the lender, and we successfully negotiated an exceptional deal whereby our client paid a settlement of £28,000 to the lender, achieving a total debt write-off for the sum of £254,000.
If you are one of many landlords in the UK trapped in a property that’s in negative equity, we can help you too!
We have helped 100’s of landlords around the UK deal with negative equity and property debt issues. Our expertise, experience and relationships with banks are second to none, and the FCA and CARB regulate us, that’s why you can trust us to help you.
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