joint ownership and one can't pay mortgage

Hi
I was just wondering if anyone has any advice .I'm bought an apartment with a friend 3 years ago, preety soon he won't be able to pay his half of the mortgage (own buisness that's folded)...even thou i'm still working can we ask the bank (bank of ireland) to switch to interest only or do i have to pay the whole lot????
Any advice woulkd be really helpfull.
Thanks

No harm in asking the BOI I think.

Would you be able to pay it on your own and buy out your friend. Only issue is that the value of the property has reduced and therefore your friend will have to share the losses.

If one of you is not able to pay then the other will have to pay it. Can you afford it, if yes you can try and get it into your sole ownership if not the property will have to be sold.