Very briefly.
I have multiple buy-to-let properties. Bank told me they were unsustainable last year- so i agreed to sell them.
They are very nearly all sale completed (another month and all 3 should be sold)
I will have a shortfall of residual debt c. €350k once sold.
Before i sell, should i now go to bank and tell them i want to do a deal on residual now - or else threaten to hand them back the keys and tell them sell it themselves?
Surely once i sell i wont get any brownie points from bank at that point? Surely now is the time to play hardball yes?
Earlier in the year my solicitor did try this but the bank said they wont engage at all until properties are sold. I accepted that at the time.
But in hindsight i am now thinking my solicitor surely should have put the onus back on the bank ?
The properties are still not fully sold so i'm thinking the opportunity is still there.
A family member has signed as a guarantor for a substantial amount so that is where i want to get the deal on as my priority.
Any advice welcome
I have multiple buy-to-let properties. Bank told me they were unsustainable last year- so i agreed to sell them.
They are very nearly all sale completed (another month and all 3 should be sold)
I will have a shortfall of residual debt c. €350k once sold.
Before i sell, should i now go to bank and tell them i want to do a deal on residual now - or else threaten to hand them back the keys and tell them sell it themselves?
Surely once i sell i wont get any brownie points from bank at that point? Surely now is the time to play hardball yes?
Earlier in the year my solicitor did try this but the bank said they wont engage at all until properties are sold. I accepted that at the time.
But in hindsight i am now thinking my solicitor surely should have put the onus back on the bank ?
The properties are still not fully sold so i'm thinking the opportunity is still there.
A family member has signed as a guarantor for a substantial amount so that is where i want to get the deal on as my priority.
Any advice welcome