Negative Equity Help
Current figures indicate that 41% of homeowners in Northern Ireland, about 68,000 people, are in negative equity.
House prices rose rapidly from 2005 until 2007, before we experienced the most dramatic house price crash in Europe. Property values are still struggling to recover, with current average prices similar to where they were in 2005.
At APS, we have helped hundreds of homeowners trapped by negative equity. Our aim for all our clients is to provide a full and final solution to their problem, relieving them of their debt burden and allowing them to get on with their lives.
This means providing a range of services, involving financial and legal advice, with a specific emphasis on debt solutions. On a daily basis we engage with lenders and their agents, the Courts Service, solicitors, accountants, estate agents and insolvency practitioners. All have a role to play in providing a solution, and at APS we coordinate these services to provide a single point of contact, acting as an advice hub for our clients.
We have spent several years developing our links with a wide range of lenders. Our knowledge of their policies and our experience in dealing with negative equity enables us to guide our clients through the process of dealing with the problem.
How We Work
Assessing The Problem
All effective solutions start with a comprehensive analysis of the problem. Whether this requires legal or financial expertise, we can provide the knowledge and experience necessary for a full assessment.
Initial consultations are free and you are under no obligation to use any services provided by ourselves or our partners.
We can arrange interviews at our offices or in your home and can assure you of complete discretion and confidentiality at all times.
If you prefer, we can involve your accountant, solicitor, or other adviser, either from outset or at any point in the consultation process.
Planning The Solution
Having identified your options, based on a complete understanding of your situation, we can guide you in planning an effective solution.
In order to achieve this, it is important to fully understand all aspects of your current arrangements, and to identify any factors which may become important in the future.
Should you choose to engage us following the initial consultation, we will commence a full assessment. Our fact-finding process is comprehensive and provides us with a complete financial picture.
Having carried out this assessment, we will provide an initial opinion and an outline plan. We will then implement the agreed strategy, calling on the knowledge, skills and experience of a range of professionals.
Completing The Process
We aim to achieve a full and final solution for all our clients, with a negotiated settlement providing closure for borrowers and lenders.
This may involve informal arrangements, or it may mean formal proposals for debt management.
Solutions vary widely, but our aim is to ensure that all our clients are in a position to make informed choices based on professional advice.