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‘Warehoused Mortgages’ is set to be the next controversy in Ireland. Are you prepared?

It has recently been reported in the media that some €1.5bn worth of so-called “ware-house” mortgages will be the next negative property issue to sweep through the length and breadth of Ireland. A “ware-house” mortgage has been described as such as it is a mortgage where some regular payments are agreed and the rest of the sum is parked to the end of the term.

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Darwin AllenComment
Never let a debt burden affect your mental health. Ask for help!

This week saw a world-wide focus on mental health to help raise awareness of this very serious issue. The goal is to ensure that people dealing with problems concerning mental health can live better lives with dignity.

It has recently been reported that one in four adults will have a mental health problem at some point in their life. In addition to this, one in two adults with debt has a mental health problem.
Statistics also show that one in four people with a mental health problem are also in debt.

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conor devineComment
With economic uncertainty ahead, ensure that your mortgage agreement is the right one!

It has recently been reported in the media that 5-year fixed rate mortgage deals have overtaken 2-year options as thousands of homeowners are becoming increasingly worried about the economy and therefore are eager to lock into lower interest rates.

This highlights the importance of ensuring that you are fully prepared for the economic uncertainty that lies ahead. More and more households are very keen to bring certainty to their mortgage payments. Interest rates have risen and will continue to rise therefore it is very important that you plan ahead to ensure that your mortgage payments remain affordable.

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Darwin AllenComment
Don't feel trapped by a debt nightmare. Just ask for help and we will find your solution!

It has been highlighted recently in the media of some of the many drastic actions that people feel they had no choice but to carry out to finally put an end to their debt nightmare. People living with crippling debt often feel trapped, alone and in despair. In addition to this, many people face mounting pressure from their creditors through daily threatening phone calls and letters.

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Darwin AllenComment
£240,947 Debt Write Down for another GDP Equity Experts Customer - September 2018

In 2017, a husband and wife came to us with a shortfall debt matter owed to a leading UK Bank from a commercial property that was voluntarily surrendered in 2014. This property was initially purchased with a commercial loan in 2006. However, in 2008, with the onset of the economic crash, they struggled to maintain the loan repayments.  

As the net proceeds received by the Bank were less than the property sale price and as the husband was now declared bankrupt, the wife was therefore then solely left with a shortfall liability totaling £247,797.

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Darwin AllenComment