I have an apartment which I bought as an investment about 5 years ago. Since then it has been rented out and has covered itself and caused me no issues. However now the tennant has moved out and it has been lying empty for 2 months. I have had to pay the mortgage (e550) in the meantime - but I also had to spend 2k on it to do it up a little.
It's now approaching the third month and its still not let. I was getting e600 a month, there are now 3 others in the same block, for 500-520 per month, and actually look nicer than mine. I've dropped the rent and advertised all over the place, but I'm still worried.
About 3 months ago when I learnt the tennant was moving out, I called the lenders to see if they would give me a break on the payments. They said sure no problem, you can take it for up to 6 months, just come into the branch. However when I got to the branch it was a much more different story. They said I had to prove my financial difficulty and by the sounds of it (my earnings) I would not be eligible as there are way more people in worse situation than me.
My earnings have dipped a lot recently (I work in sales) - all my bills seemed to come at once last month, and spending money doing the place up and having it empty for so long has totally cleared me out.
I want to go back to my lenders; First Active, but I'd like some advice so that I can put my best case across for getting a holiday period. I would appreciate any advice you can give me.
Thanks
It's now approaching the third month and its still not let. I was getting e600 a month, there are now 3 others in the same block, for 500-520 per month, and actually look nicer than mine. I've dropped the rent and advertised all over the place, but I'm still worried.
About 3 months ago when I learnt the tennant was moving out, I called the lenders to see if they would give me a break on the payments. They said sure no problem, you can take it for up to 6 months, just come into the branch. However when I got to the branch it was a much more different story. They said I had to prove my financial difficulty and by the sounds of it (my earnings) I would not be eligible as there are way more people in worse situation than me.
My earnings have dipped a lot recently (I work in sales) - all my bills seemed to come at once last month, and spending money doing the place up and having it empty for so long has totally cleared me out.
I want to go back to my lenders; First Active, but I'd like some advice so that I can put my best case across for getting a holiday period. I would appreciate any advice you can give me.
Thanks