Non Identification of Financial Advisor in court report

I've been receiving advice from the person mentioned in the news articles, to the point where we've completed a voluntary sale and the loss crystallised at approx. 120k (+@8% pa). I'm very alarmed at the story. Do I proceed based on their advice or do I try negotiate myself with the bank now?
 
No deal agreed prior to voluntary sale of house (PTSB). Advice provided was to sell to crystallise the loss and then start negotiating with bank. The bank only offered up a voluntary sale option after the SFS was assessed.
 
Unfortunately as voluntary sale has completed you are now left with a poor negotiating position. You have a 120k residual debt and as you have provided no detail on your financial circumstances it is not possible to give any broad advice on how this can be addressed.
2nd opinion is advisable as per commentary by BB.
 
No deal agreed prior to voluntary sale of house (PTSB). Advice provided was to sell to crystallise the loss and then start negotiating with bank. The bank only offered up a voluntary sale option after the SFS was assessed.

ptsb is one of only two banks doing deals on how the shortfall will be treated after a voluntary sale of a person's home.

I don't know the circumstances of this case, but my general advice is not to agree a sale until a deal is done on the shortfall.

Brendan
 
I too was told by ptsb to sell my btl. To crystallise the loss and that a deal could be done then. I realised a loss of €170,000 when the property changed hands in November, I had to resubmit the sfs and supporting documentation.. but still I'm waiting on a decision from ptsb.
I expect that the next thing I will hear is that the information I submitted is out of date and I have to submit again.
 
Back
Top