LOCAL debt advisory practice, GDP Equity Experts, has recently joined forces with Independent Property Estates and Independent Debt Management, Bangor, to help businesses and individuals who are in negative equity try to find a solution to their debt.
As a result of the economic downturn in the property sector, Northern Ireland has the highest rate of negative equity in the UK, with some homeowners and businesses likely to remain financially trapped for many years.
Currently over 68,000 homes are in negative equity in Northern Ireland.
“We understand the financial difficulties that individuals and businesses are currently facing,” said Conor Devine of GDP Equity Experts.
“Negative equity puts a huge amount of pressure on people and by working alongside Independent Property Estates, we are committed to helping those in debt find an acceptable solution.
“We will negotiate with your lender on your behalf and try to alleviate some of the stress associated with debt management. For the last five years we have invested heavily in this side of our business, which in many instances has been life changing for our client base.”
Set up over five years ago, GDP Equity Experts is part of GDP Partnership, a privately owned company that provides a number of services across asset management, bank mediation, restructuring, corporate finance and real estate advice. By working in partnership with Independent Property Estates (IPE), GDP Equity Experts is well placed to help those currently dealing with negative equity.
IPE MD Michael Rushesaid: “We are pleased to announce that we are working in partnership with GDP Equity Experts to help provide a ‘one stop shop’ for our clients.
“Over the past few years we have seen first hand the difficult situations homeowners and businesses can find themselves in if they are trying to sell properties that are in negative equity. We will work together to help bring about a mediated settlement.”