After two years of unemployment I've finally managed to find work. Since I lost my job Ive been on reduced mortgage repayments which have been paid from a small amount of savings I had. My savings have now fully gone but thankfully I know I'll have a salary at the end of the month to meet some of my financial commitments.
I contacted my mortgage provider and updated them with my new position and told them that my new salary is very low and has no prospect in the foreseeable of a pay increase. This seemed to worry the bank and now I have been called in for a meeting with the manager on Friday.
I'm quite concerned as I do not know what to expect. Will they try and advise me to hand back my home? The property is 100k of negative equity.
I contacted my mortgage provider and updated them with my new position and told them that my new salary is very low and has no prospect in the foreseeable of a pay increase. This seemed to worry the bank and now I have been called in for a meeting with the manager on Friday.
I'm quite concerned as I do not know what to expect. Will they try and advise me to hand back my home? The property is 100k of negative equity.