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'Negative Equity NI' - worth the £300 fee?

24

Comments

  • slopemaster
    slopemaster Posts: 1,581 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    Ask them for satisfied clients you can contact?
  • rosie383
    rosie383 Posts: 4,981 Forumite
    Try posting on the NI forum. You might get answers from someone who has actually used them. And I can totally understand the negative equity. There was a ridiculous rise in house prices for a number of years and some are falling again.
    Good luck.
    Father Ted: Now concentrate this time, Dougal. These
    (he points to some plastic cows on the table) are very small; those (pointing at some cows out of the window) are far away...
    :D:D:D
  • warwicktiger
    warwicktiger Posts: 1,106 Forumite
    Definitely smells like a scam, but what is to stop you asking the lender if, in principle, they would consider a reduction of the debt to be rid of you?

    Just ask the question, don't mention figures, if you get a yes or maybe then go into some detail.
  • glizzie84
    glizzie84 Posts: 21 Forumite
    G_M wrote: »
    Why would someone who is not party to a contract be better able to discuss/negotiate that contract than one of the actual signatures to the contract?

    :huh:
    They have experience in doing many cases? That's why I am asking this question myself as I'm not sure either!
  • glizzie84
    glizzie84 Posts: 21 Forumite
    Pixie5740 wrote: »
    I'll do it for £200.

    Does your lender know you are letting the property out? Do you have consent to let?

    Where are you living now? Rented accommodation? Did you buy another property?

    Our lender gave us permission for a certain amount of time.. that time has expired somewhat..

    Yes, we are living in rent accommodation and have not bought anywhere else.
  • glizzie84
    glizzie84 Posts: 21 Forumite
    rosie383 wrote: »
    Try posting on the NI forum. You might get answers from someone who has actually used them. And I can totally understand the negative equity. There was a ridiculous rise in house prices for a number of years and some are falling again.
    Good luck.

    Thank you Rosie. It was bought at the height of the housing boom and being first time buyers, we didn't want to get left behind and paid far more than the house is worth. Looking back it wasn't a wise decision to make but we really wanted our own home without renting - and yet here we are, renting!
  • glizzie84
    glizzie84 Posts: 21 Forumite
    rosie383 wrote: »
    Try posting on the NI forum. You might get answers from someone who has actually used them. And I can totally understand the negative equity. There was a ridiculous rise in house prices for a number of years and some are falling again.
    Good luck.

    Thank you, I didn't know there was one!
  • glizzie84
    glizzie84 Posts: 21 Forumite
    nubbins wrote: »
    Where on earth in the UK did you buy a house in 2007 that is now worth 40% less?

    Bought during the housing boom. Looking at the Negative equity NI website, it says 41% of NI homes are in negative equity :-/
  • glizzie84
    glizzie84 Posts: 21 Forumite
    G_M wrote: »
    Why would someone who is not party to a contract be better able to discuss/negotiate that contract than one of the actual signatures to the contract?

    :huh:
    My main concern is that our mortgage company gave us permission to let the house for 1 year.. that was 3 years ago.

    I don't want to have to tell the mortgage company that we are no longer living there.
  • dsab
    dsab Posts: 328 Forumite
    Part of the Furniture 100 Posts
    They were discussed before on the NI forum, but tbh. that discussion seems to have gone off track.

    https://forums.moneysavingexpert.com/discussion/5018423

    IMO those companies can do little more then you could achieve yourself, and I would rather start the process myself before spending money on something that I won't see again, disregarding of the outcome.
This discussion has been closed.
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