Brendan Burgess
Founder
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Yes, there was a history of arrears i.e. have failed to clear off the €600.00 after numerous promises.
Hi Patrick
I am very confused. Do you mean by a history of arrears one small payment of €600 missed once? How long was it outstanding for?
I don't think that this is the reason your mortgage was sold.
I think it was because of the interest only period. That classified it as restructured. All restructured buy to let loans, performing or not, were sold.
If the account is clear, I don't think that there is any danger that the loan was sold.
Brendan
The history of the loan is . . . In approx. 2013 I called the lender to make a repayment on my loan. I was asked by the person on the other end of the phone did I want to pay interest only on the loan for X amount of years as the loan was quite small. They said they would offer interest only option. I took them up on their offer.
Out of the blue the interest only period ceased and I returned to full payments which have been met since save for the famous missed payment of approx. €600.00. Yes, this was connected to the threat of the rent receiver in December.
The arrears are now paid and the loan is in surplus funds.
Received letter this morning. Buy To Let tracker (1.1%) sold. One missed payment i.e. €600.00
I have approx 18 years left on the mortgage. Firstly, can they force me to sell the property and secondly can they take the tracker off me and / or put a receiver in place? I have intentions of clearing the €600.00 this week.
I'm concerned I'll be forced to sell.
Hi all, I need some urgent advise please. I received a letter stating that a receiver is being appointed to my BTL in 10 days. I called my lender and they declined my proposal to clear off the arrears balance. The reason given was because I failed to abide by a previous agreement put in place to clear the arrears.
My mistake this is connected to the December threat of a receiver.
My overall financial situation in the past was bleak but this is not the case now and all paying all my loan are being paid in full each month.
I had great sympathy for the OP, now my sympathy is with the bank that had to deal with this mess and did everything to try and help the OP and despite them offering him interest only he missed another €600 it appears, for months, promised and promised to sort it out and naturally enough the bank had had enough.
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