Property debt is a UK-wide problem.
Some regions, however, have suffered and continue to suffer more than others, specifically the North of England and Wales.
Not only has negative equity not gone away; some market experts and post-Brexit soothsayers are warning that we may soon be seeing more of it. Worrying prospect, that.
Hundreds of thousands of people are affected and are in need of property debt advice because of negative equity. Its a hang-over from the crash of 2008 and the recession which followed it.
Property prices at the moment are not promising. Figures published in August 2016 reveal the North-East where the average asking price for a home now is £147,330 to be the only region of the UK where this is lower than was the case in August 2015. That 1.2% drop is a real concern for any home owner or property speculator in that area.
Asking prices in London fell by 2.6% in August. That represents the biggest month-on-month dip in house prices of all the UK regions. That said, the average asking price in London is a hefty £619,409, which is 2.1% higher than in August 2015.
Welsh asking prices slipped by 0.2% month-on-month, making the price of the average home in the Principality £180,425.
Thankfully its not all doom and gloom. In Yorkshire and Humber and the West Midlands asking prices have actually increased by 1.2% and 1.1% respectively.
But in the main the analysts predictions of what may lie ahead do not make good reading for anyone in negative equity who had been hoping to see the value of their house increase sufficiently to at least leave them on the plus side of the profit-loss line. At this point that remains an improbable scenario for many of those caught up in property debt.
Negative Equity UK are market-leaders in providing help for people trapped in property debt. Regulated by the Financial Conduct Authority the hallmark of any reputable company – Negative Equity UK exist to find solutions to tough problems. The clue is in the name sorting out negative equity issues across the UK is their raison d’tre.
Authoritative, knowledgeable, respected and experienced, currently they are helping hundreds of families escape from crippling debt, regain control of their lives and start living again.
They do this by finding answers and coming up with outcomes only experts in such matters could ever hope to achieve. They know all the financial and legal options, they are skilled negotiators who will sit down and bargain on your behalf with your lender, and ultimately they will find a solution which is realistic and acceptable to the creditor and debtor alike.
Negotiated settlements often result in a huge percentage of debts being written off. Figures of up to 90% have been achieved, liberating people who had feared they would never recover from their debt problems. Most people don’t realise that property debt advice of tour calibre exists.
Alternatively, the terms can be re-negotiated, with mortgage repayments reduced and the period over which they are paid extended. That, too, is an option, particularly if the mortgage you were sold was not the one that was best for you.
And even in the most extreme cases of property debt and negative equity they can help you find a mortgage for a home, thereby freeing you to sell and move on. For families who have outgrown their home, or couples who are divorcing and wish to sell but fear they cannot do so because of property debt, that means a fresh start in accommodation far better suited to their needs.
Not only do Negative Equity UK find the answers, they are wholly sympathetic to the plight of people who find themselves in property debt-related problems. This is because in Negative Equity UK's considerable experience, such difficulties tend not to be as a result of anything the victim has done wrong.
In providing help with debt problems, Negative Equity UK treat individuals and families with consideration, compassion and respect.
If you need property debt advice, get in touch to book your free consultation with one of our experts!