Negative equity still major issue for many UK landlords, the Financial Institute has reported.
Whilst we appear to be in recovery from recession, negative equity is still a large problem for many landlords. It has been raised that negative equity is particularly prevalent in Welsh properties.
Wales-based landlords are experiencing difficulties as a result of negative equity problems. Negative equity is where a property is worth less than the outstanding debt secured against it.
This is a particular problem for Welsh landlords who wish to sell or move on. If they sell the negative equity property, they could be left responsible for any shortfall. Therefore, they are automatically encountering a loss on the sale of the property.
The situation with negative equity in Wales is in stark contrast to comparative affluent parts of the UK. For example, negative equity is a minimal factor to London property owners. The thriving capital property-market continues propelling to the unaffordable. This is in contradiction to the situation for many Welsh property owners. With negative equity, they can feel they are left with little to no options. London & Wales are separated by a mere 2 hour train journey. However, in terms of prosperity, they are worlds apart.
Contrary to popular belief, help for negative equity is available. At Rescue My Properties, we are the first emergency service for distressed buy-to-let mortgages in the UK. We offer free one hour consultations to property owners facing negative equity problems. Rescue My Properties is able to negotiate with your lender on your behalf. We can mediate the shortfall of a sale. We can give the options you need with a negative equity property.
Call 0207 127 6536 to speak to a member of the Head Office team.
Negative equity: Take action now!
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