In 2013 we formed a new team to handle a widespread problem that is overwhelming many property owners across the country. HWP combined with Castle Estate Agents, Dublin’s fastest growing sales agency, to create a powerful team capable of advising clients with property across Dublin and beyond.
Our joint expertise has allowed us to launch Portfolio Solutions:
What is Portfolio Solutions?
We provide advise and services to property owners who are coping with their debt and liabilities. Whether you have a single asset or a portfolio of hundreds of residential or commercial properties, it can be a testing time managing repayments and working out a feasible solution with your bank or mortgage company. Many banks are threatening action, appointing receivers and taking assets out of their owner’s control. It is time property owners had someone on their side.
Portfolio Solutions are your dedicated advisor, standing on your side in all negotiations with your banks. We can help you analyse your portfolio, value your assets and develop a strategy proposal to begin negotiations with your banks. We will also help you prepare your financial statements and paperwork that your bank will require to review your situation and make their decisions on a solution.
How can Portfolio Solutions help?
If you are conflict with your bank because you are in arrears on your repayments or your portfolio is in negative-equity, there are now solutions other than waiting and hoping for a recovery. Banks are taking action and negotiating solutions that will allow portfolios to be sold to recover some of the debt while writing-down excessive amounts.
We have helped over 50 investors come to mutually acceptable agreements with their financial institution. Typically this involves the following process:
- Valuing and Analysing Your Portfolio – Our first step is to review what your portfolio is worth today. We provide formal written valuation reports for official bank use. Once your portfolio has been valued, this can act as a base for negotiations over the remainder of your liabilities. Without a proper up-to-date valuation, both you and your bank can only speculate over what your outstanding liabilities are and cannot start negotiating a solution.
- Preparing Financial Statements – Your bank will next require a full understanding of your financial situation. This allows them to analyse your ability to repay your liabilities. This will include any other income, assets or liabilities. Without this your bank will not consider your case. Usually it will show your situation needs a solution and allow the banks to make decisions to recover what they can now and come to some agreement.
- Presenting To Your Bank – We regularly deal with all major banks and mortgage holders active in Ireland. We can support you when putting your case to your bank and coming to a solution.
- Negotiating A Solution – Based on the value and composition of your portfolio, we can help come to a solution that wil be mutually-acceptable to you and your bank. This may include a new repayment programme, property sales, debt write-downs and a combination of solutions. Most importantly, if there is a family home included in your portfolio, we can focus on protecting and if possible ring-fencing your most important asset.
Why Portfolio Solutions?
Castles and HWP have come together to provide a total solution to both sides of the distressed real estate market. Our combined teams are uniquely placed to help property owner’s across the country:
- The Castles Network – Offices and expert agents across Dublin and Leinster.
- Nationwide Network – We have partnered sales and management agents across Ireland.
- HWP’s Experience – HWP expertise in strategic management of residential & commercial portfolios.
- Combined Experience – Helping property owners find solutions to their property assets.
Portfolio Solutions do not charge expensive fees for our service. Usually our fees are funded by the usual fees on property sales, a performance-based fee agreement that only charges you when we have completed our job and acheived a fantastic result for our clients (subject to terms and conditions).
The Portfolio Solutions Team
Karl Hannigan – HWP
Karl is Managing Director of HWP Property Specialists. Karl has over 20 years of experience in commercial and residential property. In 2010 he began helping portfolio owners negotiate with their banks and has since dealt with over 50 investors and all 8 major mortgage-holders. He has managed the negotiations over 350 properties with sales proceeds totalling over €100 million and debt repayments of over €50 million. Karl leads our Portfolio Solutions team in preparing property owners for negotiations and dealing with their financial institutions.
Ben Thompson MRICS – Sales Director, Castles
Ben manages new business and sales for Castle Estate Agents. He has 10 years experience as a Chartered Surveyor for Knight Frank in London and Savills in Dublin. As a commercial investment broker, Ben has acquired or sold over £1 billion in real estate across Europe, including commercial business parks, multi-use city centre developments and large residential apartment schemes. At Savills, Ben set up their Residential Asset Management Team which managed over 1,500 units across Ireland on behalf of UK banks, including lettings, management and disposals.