OK
If you have 10 years left on your mortgage, I am guessing that around 75% of the repayments are capital. If you are under cashflow pressure, then you should not be paying off your mortgage. You should try to pay just the interest.
If you have a cheap tracker, the lender will definitely not agree to it.
If you have svr, they might agree to it.
If they don't , you may have to sell the holiday home.
If you have a cheap tracker on your home, it's so important to keep it, that selling the holiday home might be a good idea.
brendan
The mortgage repayment is the 'big one' but the ones that are screwing me up are the bank loans. Apparently there is no more 'fat' in our incomes for the bank to help.
Is there a 'strategic' way out of this cul de sac? Its breaking my heart to be in a position where I actually do not have any access to any money and I am in fact walking around without money. Its scary stuff!
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?