This client, who wished to remain anonymous, had numerous buy-to-let properties in various locations and approached Landlord Debt Advisory regarding three of the buy-to-let properties he had bought at the height of the market in 2007 at a cost of almost £560,000. When he came to us, the properties had fallen drastically and were only worth £276,000, leaving him with a rather hefty negative equity value of £284,000. Even though all three properties had long term tenants, he was still losing money every month.
The client approached the LDA team asking if we could help. We successfully negotiated the sale of all three properties. London Debt Advisory also approached the lender and we successfully negotiated an exceptional deal whereby our client paid a settlement of £28,000 to the lender, achieving a total debt write-off for the sum of £254,000.
If you are one of many landlords in the UK trapped in a property that’s in negative equity, we can help you too!
We have helped 100’s of landlords around the UK deal with negative equity and property debt issues. Our expertise, experience and relationships with banks is second to none and we are regulated by the FCA and CARB, that’s why you can trust us to help you.