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Negative Equity NI

Whether it is the property crash of 2008 or the Coronavirus Covid-19 pandemic of 2020, the affects of these two major financial crashes will be felt for years to come.

A fall in property prices when there was originally very little equity in a property in the first place, will lead to negative equity in your property.

The Good Old Days

In “normal” times, when you invested money into property, the saying was that you could go wrong. Famous last words!

For years that was indeed the case, that property was a good investment and would always slowly but steadily rise in value.

These times are not now normal and if you find yourself in negative equity, you need to do something about it now.

Act Now If You Have Negative Equity

You cannot just wait to see what happens or hope that your property will sudden leap in value this year. It is not going to happen.

If you know you are coming to the end of your mortgage term, this also makes the situation more urgent too.

The first call you must make is to your Lender to see if they can help in any way.

Unfortunately, the standard answers from Lenders is that you will have to pay more each month to help reduce the deficit and they also might be abe to extend the term of the mortgage too.

These two things are not much help if you cannot afford to pay extra each month towards the mortgage and also, a lot of people have interest only mortgages and extending the mortgage term will not make any difference at all.

negative equity ni giants causeway

Negative Equity In Northern Ireland

Negative equity in properties in Northern Ireland is a really big problem. Even more so than England, Scotland or Wales.

In N.I. there was a boom in property prices in 2007/2008 and many people jumped on the property band wagon and bought at the height, only to find out that soon after, the values would drop like a stone.

What was initially intended as a way to make a profit, actually turned out to a way of losing money, quickly!

For anyone with negative equity in N.I., you need to get in touch with us a soon as possible to see how we can help you get out of the situation for good.

The circumstances are ruining a lot of peoples lives and the worry is affecting their health.

There are legal ways to deal with the situation and if you want to have a chat about it without any obligation at all, please do get in touch,

It might just be the most helpful phone call you have had in a long time and it could reduce your stress levels and worrying considerably.

Anywhere In Northern Ireland

It doesn’t matter whether you live in Belfast, Londonderry/Derry (aka stroke city), Bangor, Lisburn, Omagh or Newry, we can help you.

You can live in Counties Down, Antrim, Armagh, Londonderry, Tyrone or Fermanagh, we can guide you through it all, but you must start the process by getting in touch now!

See the personal experience of negative equity.

Negative Equity Mortgage Solutions

This is an article on negative equity mortgage solutions that are available in the UK market. Put simply, if your mortgage is higher than the value of your property, then you are in negative equity. Main Causes Of Negative Equity There can be various causes for having a property in negative equity and you definitely...

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Write Off Your Negative Equity Legally

The second option is finding out about being able to write off your negative equity legally for a fraction of the total amount. Option 2 - Write Off Your Negative Equity Legally So you now realise that you are in property negative equity and that you need to do something right about it. Again, it really...

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Negative Equity Rental Property

It is a different matter when you have a number of negative equity rental property to deal with, instead of just your own home. Option 3 – Negative Equity Rental Property When you are dealing with a number of rental properties that are in negative equity, it would be unwise to use the method we suggested...

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Bankruptcy the Only Option?

The next thing to consider is if bankruptcy the only option. Option 4 - Is Bankruptcy the Only Option? When you are in circumstances where the debt levels are very high, then bankruptcy might well be the best legal option for you. There used to be a terrible stigma associated with bankruptcy, but since the...

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Property In Negative Equity Need To Sell Your House?

Property In Negative Equity Need To Sell? - there could be a number of reasons why you need to sell your property, but you cannot because of negative equity in the property you want to sell. Find out more about selling a house in negative equity by reading on. Why You Need To Sell Your Negative...

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Selling House In Negative Equity Advice

When you realise your property value is less than your outstanding mortgage balance, selling your house in negative equity might be your initial reaction to get rid of the problem and start over again.  We get asked all the time - can I sell my house in negative equity? The problem arises when you haven't...

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