Very difficult ask here! Negative equity mortgage and the fact that you can afford full repayments will be a further deterrent to KBC to offer any reduction in repayments. By all means ask them for a term extension, but I doubt that you will get a positive response. If such a request came to me I would be turning it down in my own organization.
thanks for the replies, I have yet to tell KBC it is now a buy to let and not a family home anymore. All property tax, PRTB and income tax are up to date. I have a feeling when we fill out the statement of means KBC wont respond in our favour.
I have had friends in similar positions that have simply stopped paying and got deals but this is someone I don't want to do, I am keen to keep my credit rating.
Income 6870
Expenditure
Crèche €1200
Mortgage €1250
Loan 1 €170
Loan 2 €250
Rental €615 plus tax, usc, property tax, prsi - HOW MUCH?
All the other usual housefold bills, insurance, tax, groceries - HOW MUCH FOR EACH
Total €3485
Excess on income over expenditure = 3385
Both age 35 2 children
PPR 320K
Mortgage 287K
AIB 3.5% SVR Term: 29 years
repayment €1250 p/month
Rental
Rental property €220k
Mortgage €315K
SVR 4.3% 28 years remaining
1664 p/month KBC
rent €1200
Management fees €150
1200 - 1664 - 150 = 614
Loan 1
BOI loan €5000
Term remaining 2.5 years
Repayments €170
Interest rate?7.5%
Loan 2
Parents €9000
Repayments €250
Term 3 years
No credit card debit or other loans. - GOOD
You didn't ask but before I advise on KBC please do the following
Questions
1. Please outline your spending on cars, house, groceries and utilities done above
2. Why did you borrow from the parents to insulate house we bought
3. What was the BofI loan a car
4. Why is there no savings because we just bought a house and used €50k savings also crèche was €2k per month before daughter started school
5. Why did you buy a house you never see ? ??? we did see it and lived in it where is this question coming from I never said that???
6. Why did you buy a too small house, it has great potential in an excellent location with a great garden
7. Why did you buy a house that needs work. same as above, houses done up in this area are now selling for €400 ++ I don't think we will lose on this house
I find that those that give the fuller picture will receive better advice. Your answers will help. The questions may seem personal, they are, and they are for you to help yourself. We don't know you and never will.
Sorry Clara the new website drives me nuts.All questions replied to in quote if you expand. Children's accounts €50 each per month since they were born they are 1 and 5.
, I feel so frustrated we are doing this each month and such a big chunk of my money goes to rental property and is essentially down the drain.
I am going to approach KBC to hopefully reduce they payment maybe increase the term, or park some of the capital for a period. I am hoping to get a meeting with them in Jan we have always paid the mortgage no matter how short of cash we are. Any advice on what to ask for?
I have had friends in similar positions that have simply stopped paying and got deals but this is someone I don't want to do, I am keen to keep my credit rating.
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?