Being a Landlord of a property or property folio can have many challenges. In a buoyant property market lenders are keen to support investors increase borrowings. You may feel safe in doing at the time with support from your financial institution but what happens when things go wrong?
The lender will still seek full repayment of their mortgage / secured debt. The lender may seek ways to improve their position and minimise their exposure by charging other assets and even your home.
We have had many clients experience this and felt at the time they had no option but to voluntarily allow their lender to take additional security over their debts.
With increasing property rates, council taxes and changes to tax legislation landlords are under increasing financial.
If you are a landlord you may have a mixed folio of preforming and under preforming properties charged to various lenders. Our consultants can review your portfolio and discuss with all of your options whether you wish to retain, renegotiate or dispose of certain properties we can help.
Discovering your mortgage has been mis sold may be as a result of misrepresentation of your affordability or eligibility at the time you took the mortgage.
The first step is to request your mortgage file which should include your initial application and credit assessment information.
Whether you obtained your mortgage via an independent broker or not this information should be held on your mortgage file and you are entitled to receive this information from your lender free of charge. It may take up to 40 days for your request to be processed by your lender and the documents to be released.
We can assist you in requesting the correct documents or Subject Access Request ‘SAR’ from your lender and ensuring this is complete in order to complete a full review of the situation.
