My partner bought four investment properties on an interest only basis. Unfortunately he has become seriously ill from stress and has been hospitalised for this condition for four months now.
The properties are secured against themselves, not the family home. At present they are all let but the rent doesn't cover the repayments, which is OK now but if he continues to be unwell his salary will be affected.
Is it possible to walk away from these investments or ask for a moratorium if his condition doesn't improve?
Any suggestions welcome, thanks.
The properties are secured against themselves, not the family home. At present they are all let but the rent doesn't cover the repayments, which is OK now but if he continues to be unwell his salary will be affected.
Is it possible to walk away from these investments or ask for a moratorium if his condition doesn't improve?
Any suggestions welcome, thanks.