Explanation of Sustainable Level of Repayment

K

Kerrigan

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Hi All

If a lender insinuates in writing that 6% sustainable level of repayment maybe accepted what does that actually mean?

Is it simply a monthly repayment consisting of full interest and 6% of the capital per month?
 
It's suggested a 6% sustainable level of repayment is made. If you can comply to this for a period of six months it may then be appropriate to submit another SFS.

 
Hi Kerrigan

That is clear to me. That is 6% including interest.

So if your mortgage amount is €100,000, you must pay €6,000 a year or €500 a month.

Brendan
 
We were removed from MARP i.e. an unsustainable mortgage. We continue to repay full interest per month and a portion off the capital. Its surprising that a 6% of capital would be acceptable considering we are currently paying more
 
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