The best ideas are often born of personal experience. When the bottom fell out of the property market and Tony Barker was struggling to meet the mortgage repayments on his apartment in Cyprus, the businessman looked for advice. He soon found himself running a company helping others in similar predicaments.

Barker approached financial advisers Marcus James Group for help and the upshot was Barker launching Marcus James Recovery. The firm matches investors willing to take on the outstanding mortgage payments from the original purchaser, who can walk away, having lost no more than his deposit.

The cost of the property depends on how much of the mortgage has been paid off, so could be above or below market value depending on when it was initially bought. It has the dual effect of helping out distressed vendors and offering a low capital investment opportunity with a guaranteed finance option.

“Anything that maintains mortgage payments on a property is good for the market. This will help maintain the value of the properties and go some way to keeping the market more buoyant,” said Barker, who is looking to expand the business to other countries.

Link: www.marcusjamesgroup.co.uk/recovery