We cannot afford to make repayment outlined above and only other options would be either to stay on interest only or make some kind of capital repayment + interest.
We owe approx €216k, property may now be worth 250k maybe 270k.
The bank has notified us that we need to come off interest only tracker very soon on our BTL property.10 years left on mortgage.
Bank wants €1880 for interest and capital repayments per mth ! This we could not afford as this rental income is used to currently pay bills each month.
We do save €300 each month into a fund for kids education
Bank wants €1880 for interest and capital repayments per mth ! This we could not afford as this rental income is used to currently pay bills each month.
Interest only is €190 per mth , rental income €1450. Bank wants €1880 for interest and capital repayments per mth ! This we could not afford as this rental income is used to currently pay bills each month.
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