J
Original poster is not in arrears yet as far as I can see. In a pre-arrears situation the borrower needs to be proactive and engage with the lender under MARP.If you are in arrears the bank should be telling you about MARP but from reading posts on aam it seems this is still not happening.
Your most recent (2011?) mortgage statement should give you an idea or else use this calculator to figure it out using your outstanding capital balance, term and rate.How to i work out how much interest im currently paying every month? i can imagine its a lot
Seems a reasonable way to do it in my view. But if you want you can easily download an SFS and do it manually:I contacted the bank. They said they do SFS over the phone, and they dont post due to postal charges and some other lame excuse, I had the feeling some how that this doesn't seem right?
Familiarise yourself with the MARP process (this site is back up now):I told the lady i would ring back anyway. What should I do?
Just to clarify - I think that you need to figure out a plan before just jumping at one of these options. E.g. once you have collated and analysed all of your financial details you see what you need to help you get to a more sustainable position.I will try and get interest only and maby a payment holiday to get my situation in order.
As above - you need to figure out a plan to sort out your finances and achieve this goal. It may or may not be possible in the short term and almost certainly will require some (possibly tough) decisions to be made.I want to move house, but I cant move house with such negative equity
As above - you need to figure out a plan to sort out your finances and achieve this goal. It may or may not be possible in the short term and almost certainly will require some (possibly tough) decisions to be made.
I appreciate that but this is the very time that you need to think clearly about these issues. Collating the raw data and analysing it is not that difficult. That's the first step towards formulating a plan.Its hard seeing clarity at the moment when you have no prospects of employment.
Short of something dramatic (such as UK bankruptcy or maybe Irish if/when the personal insolvency legislation is sorted) I don't think that you will find a way to write off €100K. You might want to consider if moving is not a realistic option for the moment.If I get interest only, sure I will have a little more money each month but this will not sort out my real issue which is the 100K hole that needs to be filled so I can then move. the only solution I can see is
1/ The government writes off the debt for first time buyers
2/ I take measures to write it off myself.
What sort of financial advisor?I am going to talk with a financial adviser on Monday and hopefully sort out what I need to do, so I can achieve what I want
Short of something dramatic (such as UK bankruptcy or maybe Irish if/when the personal insolvency legislation is sorted) I don't think that you will find a way to write off €100K. You might want to consider if moving is not a realistic option for the moment.
What sort of financial advisor?
Would it be possible to take one or two month payment holiday and then enter interest only? It might allow me to build up enough savings to get my head above water.
How to i work out how much interest im currently paying every month? i can imagine its a lot
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?