Now is probably a good time for banks to do deals on Personal Guarantees.
Uncertainty being the mother of all uncertainty, no matter what however we view the matter personally, the recent Brexit vote will create bucket loads of it for the short-term and maybe the longer.
With this background and potentially reducing property values, banks really ought to consider getting some full and final settlements in place. Post-2008 the ability for banks to recover monies owed were severely hampered in part by negative or low asset values; if this becomes a feature post-Brexit then they must consider some impetus to look for full and final settlements whilst there still is the possibility of doing so.
13 July By Mel Loades