Winter Miles
Registered User
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- 19
I have a KBC Tracker 1.45% for a property in the UK.
The mortgage is a 20 year term and the first 5 years were Interest Only.
I lost my job about 3 years ago and nearly had the property repossessed. It went as far as court but with getting a new job etc I was able to pull it back from the brink.
The last 18 months I have had no arrears and even started paying back some of the principle figure (£160,000) on a direct debit every month. Interest Only payment is £300 and I have been putting £300 in myself per month.
The Interest only period is now coming to an end and the repayments are going to go up to £1065 per month. Put simply I cannot afford this.
My own mortgage (BOS) is €1000 per month and another investment (that i have with KBC) is €1200 - to which i put €500 a month to meet the repayment.
If I go to KBC what are they likely to tell me?
I have about a week left before I need to make the call.
I am pinned to the collar at the moment and have strived to hold onto everything. Thankfully I am working but I am self employed and work is slowly decreasing and interest rate hikes are looming.
regards
Potsy
(The mortgage to be resturctured is a property in the UK, hence the £ symbol and low rate of interest, the other 2 properties are in Ireland)
The mortgage is a 20 year term and the first 5 years were Interest Only.
I lost my job about 3 years ago and nearly had the property repossessed. It went as far as court but with getting a new job etc I was able to pull it back from the brink.
The last 18 months I have had no arrears and even started paying back some of the principle figure (£160,000) on a direct debit every month. Interest Only payment is £300 and I have been putting £300 in myself per month.
The Interest only period is now coming to an end and the repayments are going to go up to £1065 per month. Put simply I cannot afford this.
My own mortgage (BOS) is €1000 per month and another investment (that i have with KBC) is €1200 - to which i put €500 a month to meet the repayment.
If I go to KBC what are they likely to tell me?
I have about a week left before I need to make the call.
I am pinned to the collar at the moment and have strived to hold onto everything. Thankfully I am working but I am self employed and work is slowly decreasing and interest rate hikes are looming.
regards
Potsy
(The mortgage to be resturctured is a property in the UK, hence the £ symbol and low rate of interest, the other 2 properties are in Ireland)
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