Hello, and my apologies but I'm not sure where to ask this question. If I need to re-type it someplace else please advise.
My query is (I think) relatively simple. I'd be grateful for any advice.
We took out a tracker mortgage in 2008 for a home that was our primary residence (not a buy to let)
In 2012 we were forced to relocate to the UK for work. We rented out the house, and those tenants are still in situ. We hope to return, but can't say for definite when, or if, that will happen. And we can't afford to sell the property, even if we wished.
My concern is this: can the bank force us off our tracker?
A few additional details:
a) the rent doesn't pay the full mortgage; there's a shortfall of around 500 p.m.
b) we defaulted since 2008 on only one month's rent (and paid that a while afterwards)
c) we've checked our mortgage agreement and it doesn't say anything about 'landlords', 'renting the property' or anything else.
Any ideas or feedback would be great. Thanks again.
My query is (I think) relatively simple. I'd be grateful for any advice.
We took out a tracker mortgage in 2008 for a home that was our primary residence (not a buy to let)
In 2012 we were forced to relocate to the UK for work. We rented out the house, and those tenants are still in situ. We hope to return, but can't say for definite when, or if, that will happen. And we can't afford to sell the property, even if we wished.
My concern is this: can the bank force us off our tracker?
A few additional details:
a) the rent doesn't pay the full mortgage; there's a shortfall of around 500 p.m.
b) we defaulted since 2008 on only one month's rent (and paid that a while afterwards)
c) we've checked our mortgage agreement and it doesn't say anything about 'landlords', 'renting the property' or anything else.
Any ideas or feedback would be great. Thanks again.