Buy To Let liability

T

twilt

Guest
I have a buy to let and it has obvioulsy fallen in equity, if I don't keep up the payments typically am I liable for the difference in equity or does it just get repossessed. Thanks
 
Forget about the - does it just get repossessed!

You owe the full amount of your mortgage to your mortgagee (lender). They may agree to accept a lesser amount from you but it's unlikely. Your debt is not now linked to the value of your property - you borrowed, you owe the full amount.

mf
 
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