# Extending years on investment property, will bank force move from tracker to variable



## Dmoore (21 Nov 2010)

I currently have a 20 year tracker rate mortgage on an investment property with AIB. 

The property is now heavily in negatively equity, rents have dropped and my personal circumstances have changed where Im no longer able to make up the shortfall between the mortgage and rent I receive.

The best solution I can think of is to extend out the years of my mortgage but am worried that AIB will force me off my tracker to a variable rate.

Does anyone know what AIBs policy is on this?


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## mercman (21 Nov 2010)

But regardless this not act as a solution to your problem of a reduced rent and the fact that you are unable to continue to subsidise the mortgage out of your own pocket.

Without knowing the location of the property or the tenant profile, you might be left in a situation of having to sell the property and then to try and negotiate the outstanding debt with the Bank.


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## nek (21 Nov 2010)

please someone correct me if i'm wrong on this

you wont loose your tracker by asking a question
just ring the bank and ask, what, if anything they can do for you!
but be careful what you say... if you took the loan as a PPR, don't voluteer information like you moved out
also... don't agree to anything straight out!
let us know how you get on


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