Business loan

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Fordf250

Registered User
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I took out a business loan on a restaurant for £350000 in 2008 .
The business didn't work out so I've rented it out with the banks permission
And this covers the repayments . I have paid £150000 off so far so i owe about 200k . I have another restaurant with an overdraft of 10k and the bank insisted i put a charge on my house , they have now told me that me that next year they will review my loan and probably wont renew it or my business overdraft.
They want me to sell the rented restaurant asap ,can they do this and I am worried if they do they will auction it and make me sell my house to pay the possible losses.
I don't want to sell i want to keep it as in 7 years time it will be paid up and this rental income will be really good as the business tenant is doing better than i did . Any one can advise me on this please
 
I would think as long as you are meeting your original contractual agreements you should be fine. Check the original paperwork.
 
I am keeping up with the payments but i am worried they will call it in . I have invested so much time and effort in keeping what i have . I don't want to lose it now . Maybe they are just using scare tactics .
 
This is an Irish web site and you appear to be based in the U.K. so any replies may not be relevant.
 
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