Negative Equity UK is the market leader in providing solutions to negative equity problems.
Since 2013 we have helped over 750 clients with their negative equity issues. In those six years, we have helped clients resolve their negative equity dilemma, enabling them to move on with their lives.
We are currently the only company in the UK that is authorised and regulated to offer you all of the available solutions under one roof. Our service is 100% confidential, our average write off is over 75%, and our success rate 96.67%.
There are a number of potential solutions to your negative equity problem.
Mortgage shortfall settlement
Here the property in question is sold and an affordable settlement negotiated in respect of any remaining debt (negative equity). Settlement levels vary based on your circumstances and lender; debt reduction of 60%-85% is common and there is no need to go bankruptcy / insolvent.
An IVA (Individual Voluntary Agreement) is a contractual agreement made between you and your creditors. You enter into an agreement to pay back a portion of your debt over a specific period using a payment plan that you can afford eg 3 creditors, £80,000 debt in total, settlement £15,000, payable as £250 per month over 5 years.
Typically this is used where there is no desire to sell the property but the current mortgage is precarious eg on interest only, some negative equity and an insufficient term remaining on the mortgage to facilitate full repayment. A new agreement is sought with the lender and this can involve all or some of; extending the mortgage term, securing a better interest rate, converting some (or all) of the mortgage onto full repayment.
Mortgage re-broking is where find a more suitable mortgage product with a different lender. We analyse your current financial situation and present your case to a new lender.
One of the causes of the market crash in 2008 was the reckless selling of unsafe mortgage products. This meant many people ended up with mortgages they either couldn’t afford from the start or would have great difficulty in ever paying off in the future.
If we can find evidence to support a claim that you were mis-sold a mortgage, we can help fight your corner, and seek financial redress via out legal partner.
And Bob Shanks (Client Relations manager) says there are many solutions to your negative equity problem.
“The first step is the case review. We take a holistic view and ensure that ALL relevant options are considered.
“Basically there are the four to five options. The great benefit of the Case Review process is that we are pre-disposed to prefer one option over another; the client’s circumstances and preference will always lead to the most suitable next step.
“If there are grounds for a mis-selling complaint we can often use this as leverage to talk to the bank, or in other case direct a full complaint via the Financial Ombudsman or Financial Services Compensation Scheme.
If your property is in negative equity we can help you address this and help you get your finances into a safer long-term position.
We have received numerous 5 star testimonials on reviews.co.uk and Phil Davison (Managing Director) says they are delivering for their clients as they look to get out of their current situation.
“I think our clients are happy with the service we provide. Independent reviews say that 99% of our former clients would give us a very strong rating and recommend us to their friends and family to use our service and that speaks for itself”.
“The success rate we have since we opened is that over 96% of our clients that came to us for a debt resolution or debt write-down have had a successful outcome.”
And Phil Davison believes Negative Equity UK has the knowledge and expertise to deliver the solution you need for your problem. “As a client of CD Fairfield all options in the UK property debt market are available to you here. “We are the only company in the UK at this present time that offers that scope of service,” he added.
But many people wonder why would a bank write-down a debt? Davison said: “We get asked that question all the time and the answer is quite simple. In the first instance, the bank lent money based on affordability criteria.
“If one of our clients’ affordability has changed due to circumstances beyond their control then the banks are obliged to look at it again.”
So if you find yourself in negative equity what is the first step in the process of getting you back on track?
“A case review consists of three separate pieces of work. The first piece of work is to establish “how did we get here? “
“The second piece of work is “where are we now?” and what is our current state of affordability? And the third piece of work is what is the best way forward.”
And what protection will you have if you use CD Fairfield?
“The protection you have as a customer of CD Fairfield is that we are authorised and regulated by the Financial Conduct Authority for all our work in the UK. This means that we are submit to stringent regulation and reporting measures, as well as clients having access to the Financial Ombudsman Service if they are unhappy. You can have total peace of mind about the work we do,” Davison added.
Speak to Bob or Neil today on 0161 660 4403 to see what Negative Equity Solutions we can offer you.