My main family home (4 bed detached) is on a tracker with NIB on a current loan to value of about 50%. I have 5 other investment properties which are all in negative equity three with KBC( trackers)and two INBS (now IBRC which are variable mortgages. My query is can either of the investmenmt property banks force me to move to smaller house and to sell my main home and use the balance to pay down my loans ?
If I paid off this loan completely could they force me to sell and move and give them the balance ?
A possible solution i thought of was pay most of the loan and leave a small balance and re schedule it back over twenty years and ask the bank to put a clause in the contract that they would not force me to sell my house at the request of another financial institution during the new 20 20 year period ?
sunhill
If I paid off this loan completely could they force me to sell and move and give them the balance ?
A possible solution i thought of was pay most of the loan and leave a small balance and re schedule it back over twenty years and ask the bank to put a clause in the contract that they would not force me to sell my house at the request of another financial institution during the new 20 20 year period ?
sunhill