# Investment tracker mortgage with PTSB, need to go on IO for a while.



## madiganm (7 Feb 2011)

I  have a tracker mortgage with ptsb. I need to take a break or go on interest only for six months due to circumstances beyond my control.  I don't have any other mortgages, but my tracker is down as an investment tracker, as I don't live at the mortgage address.

I have been told that ptsb do not allow for breaks or interest only on investment trackers.  I have an appointment with ptsb tomorrow any advice would be appreciated.


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## theoptomist (11 Feb 2011)

madiganm i would be interested to know how it went with ptsb, as i too have investment tracker with them.


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## gladiator (12 Feb 2011)

I would also like to know result. I always thought it would be more difficult to get a break on your private residence mortgages then on investment mortgages. But then again banks are losing money on trackers. My view is that the banks will screw you for every penny until you default on payments, it is only then that they will consider negotiating repayments.


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## ajapale (12 Feb 2011)

Hi Madiganm and welcome to AAM,

Ive moved your post from  Mortgage arrears, personal debt & negative equity to which is where investment mortgages is discussed on AAM.

Ive also expanded your title to better reflect your question.

aj
moderator


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## Trustmeh (14 Feb 2011)

Would be great to hear what the Banks response was in this instance. I can see from your other post that you are suffering from reduced income... you need to pay that mortgage no matter what though.

I would hazard a guess that if you need to change ANY aspect of the mortgage it is going to be a very expensive move for you. Taking a break or going interest only will most certainly lose your tracker and cost you more money in the long (and possibly short) term.

If there is any way it all to cut back elsewhere in your life in order to pay this mortgage for the next 6 months I think you should give it a try.

You are in a bad position having an investment mortgage when you dont seem to have your own home - unless you are living rent free already.


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## madiganm (14 Feb 2011)

Am still awaiting their decision they said I should have a decision by tomorrow (Tuesday) fingers crossed


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## madiganm (17 Feb 2011)

Bit of luck on my side they gave me three months interest only on my tracker


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