Hi all.
I have 5 buy to lets with Ulster Bank/First Active and 1 with PTSB. Like a lot of people they were bought between 2001-2007, all of them are in negative equity, all are in Dublin and all are rented.
My interest only period has come to an end on two in January and I managed to extend the interest only on three to the end of 2013. My PTSB interest only moratorium comes to an end in June 2012.
To repay the interest is manageable but the full repayments aren't sustainable and when the PTSB one come it'll hasten my demise.
I have received the MARP from Ulster for the two that have recently gone to full repayments.
My question is whether anyone has experience with Ulster Bank in relation to buy-to-lets? Are they (UB) pro-active in dealing with the customer or are they more ruthless?
I'm pretty stressed out about it as I was in construction and am not working and my only income was the small surplus from the rents after the Interest was paid. I am also currently studying full time, if that makes a difference.
Sorry if this was long winded, just trying to get the facts down.
All comments will be gratefully received.
Thank you.
I have 5 buy to lets with Ulster Bank/First Active and 1 with PTSB. Like a lot of people they were bought between 2001-2007, all of them are in negative equity, all are in Dublin and all are rented.
My interest only period has come to an end on two in January and I managed to extend the interest only on three to the end of 2013. My PTSB interest only moratorium comes to an end in June 2012.
To repay the interest is manageable but the full repayments aren't sustainable and when the PTSB one come it'll hasten my demise.
I have received the MARP from Ulster for the two that have recently gone to full repayments.
My question is whether anyone has experience with Ulster Bank in relation to buy-to-lets? Are they (UB) pro-active in dealing with the customer or are they more ruthless?
I'm pretty stressed out about it as I was in construction and am not working and my only income was the small surplus from the rents after the Interest was paid. I am also currently studying full time, if that makes a difference.
Sorry if this was long winded, just trying to get the facts down.
All comments will be gratefully received.
Thank you.