S
Hi all,
Not yet in mortgage arrears on our Buy to let but possibly from next month this could be the case.currently we have only one wage as partner has been unemployed for the last year.It has been a struggle every month to make ends meet.We have made all the necessary cut backs. We currently have our PPR and Buy to let with the same bank. Our home is not guaranteed against the buy to let but I am so afraid that if this Buy to let falls into arrears they may penalise our mortgage on our home. Can banks do this if our home is not guaranteed against it? I was hoping to get interest only on our home extended for another few months.Could the bank disallow this if our other mortgage is in arrears. I have requested a meeting with the bank but they will not negotiate. I am left with no option but to pay €700 on our buy to let instead of €1050 next month. Any advise would be much appreciated. Our buy to let currently on interest only. I just need a couple of months to clear 2 other loans and then could make full repayments again.
much appreciated
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