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  • Debt & Negative Equity

    Case study - Landlord in debt distress



    Welcome to Day 3 of "Landlord Debt Advisory" Week. All this week, Property Tribes is delighted to present a raft of content which focusses on debt issues for landlords and how they can be resolved.

    The week is being undertaken in association with PT partner, Landlord Debt Advisory, and co-founders Tom Cardwell and Phil Davison will be joining me throughout the week to discuss the leading debt trends and issues facing landlords and the solutions available to resolve them.

    This is how the week is shaping up:

    Monday -  Launch of week and a discussion about debt trends.

    Today -  Dealing with Mortgage Express when in arrears.

    Wednesday - Case study:  Commercial Landlord Robert Wilson talks about what happened when he experienced financial issues.

    Thursday -  Myths about landlord debt issues busted!

    Friday - Summary and discussion of landlord debt threats on the horizon.

    This week could be well timed as recent research has revealed that the number of BTL mortgages in arrears of 2.5 per cent or more of the outstanding balance rose five per cent just in the second quarter of 2019.

    Those facing more significant arrears increased 12 per cent in the year to mid-2019. and the number of BTL mortgaged properties taken into possession rose two per cent year on year. 

    For today's instalment, we are joined by Robert Wilson, a commercial landlord who got into financial difficulty.

    Robert talks about the impact this had on his life, and how he overcame the issues he was facing:


    Tune in all this week for "Landlord Debt Advisory" Week - join our conversations and get any of your landlord debt questions answered by Tom.

    Here is an example of what LDA can achieve for landlords in financial difficulty:

    Distressed landlord Case Settlement & Process 

    Landlord Debt Advisory is a commercial partner of Property Tribes and you can use the Landlord Debt Advisory website to find out more about landlord debt issues and how to resolve them.  

    SEE ALSO  -         Direction needed for -ve equity property ...

    UP NEXT -             Is negative equity a future problem for you?

    DON'T MISS -        Who is CD Fairfield Capital ?

    NOW WATCH:

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    Thanks to Robert for sharing his story.

    It's important that Property Tribe members see this, especially because initially your assumption would be the same as mine. In that he was in negative equity or too highly leveraged with his portfolio so that was the problem. However, due to him losing 50% of his commercial tenants in his portfolio he could not service the debt on his home.

    fab

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    There is an article in the Telegraph today about Justin Holme, another client of Landlord Debt Advisory, who got a debt write off of £96K with the assistance of LDA.

    Full story

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