If you have bought a London property or any property across the country for that matter in 2007, and it is a new build, chances are, you are probably now in negative equity, and you owe more money to the bank than your property is worth.

Property negative equity is thought to be affecting around 4 million home owners across the UK. Negative equity is really only a problem if;

1)      You want to or need to sell

2)      You are unable to manage your mortgage payments

Negative equity basically will mean that you are unable to sell your property, as you dont have enough of the “cash bit” in your property to be able to discount the sale price to one that sellers are prepared to pay. Your “debt bit” is too high. Combine a negative equity property with a seller who can’t afford their mortgage and are missing their payments with arrears mounting by the month and you have a really sticky situation. So what can you do?

Apart from declaring bankruptcy, there really is only one other option. Speak to Sell My House Quickly Please, and we will show you a way to get your property sold at the full mortgage value. Even if your mortgage value is higher than your sale value, there is a very cleaver, legal and safe way that allows you to achieve up to 110% of your mortgage value, and allows you to simply pass your debt payments over to us, having your arrears and other monthly payments come out of our pocket rather than yours.

Estate agents won’t be able to help, as they only know one strategy and that is, if your property is not selling, reduce the price. Clearly, this strategy will not work for you if you are unable to reduce the price, so if you find yourself in a situation of negative equity and you are unable to make a sale, and unable to make your mortgage payments, chat to Sell My House Quickly Please and see if we can help.

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