Interest Only Mortgage Problems

We achieved an average mortgage write off of 77% for our clients in 2018.

Our service is 100% confidential, regulated and authorised by the FCA.

Since 2013 we have achieved a successful write off for 96.6% of our clients.

We have secured debt write offs worth over £37 million for UK home owners.

Interest Only Mortgage Problems

We achieved an average mortgage write off of 77% for our clients in 2018.

Our service is 100% confidential, regulated and authorised by the FCA.

Since 2013 we have achieved a successful write off for 96.6% of our clients.

We have secured debt write offs worth over £37 million for UK home owners.

Are You Coming up to the end of your interest only mortgage period?

Buy to Let Mortgage Problems

| The Problem with Interest Only Mortgages

During the late 1990’s and 2000’s the vast majority of banks were pushing interest only mortgages as a way of enticing people to take on higher mortgages or 2nd home mortgages with lower monthly payments, especially the buy-to-let market. The problem is that the repayments only cover the interest on the mortgage and go nowhere towards repaying the home loan amount and interest only mortgages should have only been sold when a suitable repayment vehicle was in place for the repayment of the mortgage principal at the end of the term.

The plan behind it was that people were making so much money through the increased equity in their home during the property ‘boom’ period that when it came to selling they would be able to repay the mortgage amount and interest easily or that they would transfer onto a standard repayment mortgage within 5-10 years. After property prices crashed in 2008 and the fact that wages have not really increased since 2008 people have found themselves stuck in their interest only mortgage and has time goes by a lot of the 1.7 million people who took out these mortgages find themselves coming to the end of the period with no money to repay the loan they agreed to pay. Another common problem is the customers who took out these interest only mortgages are approaching retirement and either risk losing their home or spending all of their pension to pay off the capital repayment amount.

If you are worried that your interest only mortgage is coming to an end and you will have difficulties in raising the money to cover the mortgage short fall, or if you have interest only buy to lets that are coming to the end of their term and are concerned about the possibility of losing your home as a repercussion, then contact us as we are the market leading property debt experts in the UK . At Negative Equity UK our average write off achieved is in excess of 75% of the outstanding mortgage debt and we are fully FCA regulated and authorised.

Our team of property debt specialists offers a range of possible solutions based on your situation

Whatever your circumstances, the process starts with a case review. We will obtain all of the original documentation on your mortgage from your lender so we can assess your needs and work out the best way for us to help you

The bank offered interest only mortgages based on the assumption that you had alternative investment options in place in order to pay the capital amount (amount that you borrowed) at the end of the period.  Some people will face a shortfall because their investment (e.g. the equity of the property itself) has fallen short while others never had an alternative plan in place.

In 2013 the FCA revealed that about 1.3 million homeowners faced an average shortfall of more than £71,000.  In 2018 an estimated 85,000 interest only mortgages were due to mature with number increasing dramatically over the next 2-3 years.

If you find yourself in this situation there are options?

We have helped thousands of clients in the same situation as you, we have helped our clients get write offs of over £21 million and we have a dedicated team will work with you from the start to make sure you achieve your goal of escaping from the property debt nightmare of ‘interest only mortgages problems’. Negative Equity UK part of the CD Fairfield Group are currently rated 4.89 out of five stars by Reviews.com with over 90% of our satisfied customers rating us 5 stars out of five. 

All you have to do is give us a call on 0161 660 4403 or request a callback and we will discuss the different options available to you.  This starts with a bespoke case review based on your individual circumstances with the solutions ranging from re-mortgages, debt write-offs, to IVA’s and bankruptcy.

Start getting help TODAY