17/06/2024
Landlords & Homeowners - owe more than your property is worth?
Landlords & homeowners pay close attention.
Many homeowners and landlords we speak to are struggling from a symptom called “no equity” or negative equity.
Negative equity means that your outstanding mortgage balance is larger than the actual value of your home, leaving you stuck.
If you sell, you owe your mortgage lender a lump sum. Or you become an accidental landlord where you are forced to rent the property out and you have to deal with tenants, and toilets.
Many feel stuck in this situation.
How does it work?
Between 2007 and 2009 house prices fell by around 20 per cent, leaving nearly one in ten mortgage holders in the UK in negative equity by the spring of 2009.
Let's look at an example we see everyday.
Let’s say you bought a house worth £150,000, with a deposit of £20,000 and a mortgage of £160,000. Two years later, you have paid off £10,000 of that mortgage. But after getting your house revalued, it is now worth just £100,000. This new valuation means you still owe £120,000 of your mortgage on a house that is worth £100,000 — putting you in negative equity of £50,000.
Maybe this is you? If it is, we can help.
We can buy your property, and you can move on without the stress or worry about renting the property out to problem tenants.
We take on the problem, and we do this because we specialize in buying properties just like this.
Interested in finding out more?
What should I do next?
We can make you a free offer within 24 hours, if not sooner. To have an offer agreed, without any fees or long winded negotiations, simply click the “get offer” button and finally solve your problem.
By the way, there are no hidden fees whatsoever.
Get your free offer today by sending your details to +44 7893 944708 and a member of our team we will be in touch ASAP.
