The looming prospect of Brexit has cast uncertainty over all walks of life, the housing market and your mortgage agreement are not exempt from this. If you are selling your home, uncertainty in the economy has the potential to make buyers nervous, especially with many experts predicting housing prices to plummet in the next few months. .Read More
For the last eight years, GDP Equity Experts have met hundreds of people who have found themselves in large amounts of debt. A level of debt that they will unfortunately never be able to pay off in full and largely down to the property crash of almost ten years ago.
It is quite incredible that there continues to be thousands of people from right across Ireland and the UK who have yet to deal with this issue.Read More
Cerberus, the US Private Equity Firm at the centre of a controversy over its Irish dealings, has now closed a new deal with AIB for €3.5 billion worth of non-performing loans. This will have major repercussions for borrowers in both Northern Ireland and the Republic of Ireland.
These loans are secured on commercial, residential and development projects that are deeply distressed and which have been deemed by AIB to have extremely low levels of engagement from the debtors involved.Read More
By January 2024, approximately 250,000 borrowers will have reached the repayment date for their interest-only mortgage. Most have no plans in place to deal with this problem and will struggle to find a new deal elsewhere, according to research by Kensington Mortgages.
That number equates to about 15% of the 1.7 million British borrowers who currently have an interest-only mortgage. Many have no plans or ideas on how to deal with this major issue.Read More
A lady came to us with a property in significant negative equity with a leading UK Bank. This property had a mortgage balance outstanding totaling £133,052. The property had a value of £52,000, leaving her in a significant negative equity position totaling approximately £81,052.Read More
Recent analysis figures have suggested that the onset of Brexit could intensify the serious problems already faced by the N.I economy and other regions such as the North East and North West of England.
It has been forecast that the economic gaps will only continue to widen in these regions, which subsequently could have a serious impact on already financially vulnerable households. These economies are already struggling with average earnings currently 6% below the national average therefore the onset of Brexit will only serve to weaken these economies further.Read More
Even though it is now over ten years since the global financial crisis and property crash, many people across both the U.K and Ireland continue to struggle with over 600,000 homes still in negative equity.
In our experience, debt has been an enormous source of anxiety and stress, with many people feeling like they will never be free of their financial burdens, and on many occasions this can manifest itself in illness for those involved.Read More
Benjamin Franklin was a Founding Father and a polymath, inventor, scientist, printer, politician, freemason and diplomat. In 1776, he was part of the five-member committee that helped draft the Declaration of Independence, in which the 13 American colonies declared their freedom from British rule.
Franklin is remembered in many ways and famous for many quotes, but one that keeps coming into my mind would be;
“Well done is better than well said”Read More