Has anyone with investment property problems used someone to negotiate for them?

Brendan Burgess

Brendan Burgess

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I have had a few people asking me recently to help them negotiate with their banks on arrears on investment properties. They generally don't find their accountant or their solicitor very "commercial".

Can anyone recommend someone who has advised them or negotiated on their behalf? It would probably be an accountant or a solicitor. I am not interested in debt management companies.

Brendan
 
I exhausted all avenues with this one; right down to contacting debt management companies. Everyone of them said they could not intervene.
 
Yes, both accountant and solicitor. Not one of them were successful in renegotiating. I also contacted a debt management company who said they would neither waste my time or money.

I myself am at present trying to renegotiate but getting absolutely nowhere so I have let the mortgage go into arrears with a hope it might help my plight but as yet I have not received any verbal contact bar an automated letter telling me I am in arrears.

Before I asked for a third party to intervene I had been told over the phone by the bank that there is nothing they can do for anybody with an investment mortgage??
 
Can't see how an accountant or a solicitor would be used to doing this. Maybe one of those if they have their own experience of investing in properties might be willing to give it a go. How about someone like Eddie Hobbs, he's not afraid to tackle anyone. And for sure the bank will sit up and take notice. Publicity is a great focus for banks.
 
Bronte said:
Can't see how an accountant or a solicitor would be used to doing this.
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Accountants prepare financial projections on behalf of their clients and discuss them with their banks all the time.

Solicitors handle the legal issues arising all the time.

They are the natural people to do it, although some are just not good at it.

Brendan
 
But as you stated in your first post those professionals are generally not 'commercial' You yourself would probably be better at negotiating. Or maybe some one from an organisation like MABS, who may be accountants and through their experience with MABs are good at negotiations with financial institutions and do it in private practice.
 
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