Thanks dmos87
Going to get on to them again.I dont think after 20 years with the bank it is good enough to just say no and not give a reason.
I think Brendan has given you the most likely reason for refusal - you are on a loss-making tracker and the bank would like to reduce the balance on this as soon as possible. If it's critical to you to stay interest only for 18 months, you could maybe offer to come off the tracker - doesn't make much sense overall but if it's short-term cashflow that's the issue, this may help you and I'm sure the bank would be happy to consider this.the main thing that anoyed me was there responce with no reason given.Some customer service.
What problem are you referring to? That the rent hasn't caught up with your mortgage? That the bank want you to keep to the terms of your agreement? Or do you mean the big problem with the economy? Do you really think that people who bought investment properties in the expectation of big capital gain and easy money did not cause at least part of this problem?We are not the people who caused the problem
the bank would not give us the cash they suggested an investment then sell and buy a 4 bed s/d .
So they lend you money to buy an investment property and not to purchase a home. What terrible advise
Marietta, that is the exact same advise I received when I took out my mortgage a couple of years ago with a different institution.
Rico, I agree with your last post; the sooner the better the Government take control. My only concern at the moment is between now and December - is the bank going to run every Tom, Dick and Harry to the courts to retrieve unpaid loans?
Thank's for your reply Brendan
We have a number of loans out which will finish late next year.We could afford the Whole mortgage if it was not for the loans.All i need is 1.5 more years of I/O.
Eg one of the loans repayment is 600 euro per month.thats the extra mortgage.
Some are and some aren't. I have heard of banks giving interest only mortgages for periods of three to six months.
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