I have a pension mortgage with Bank of Ireland which was drawndown to purchase an investment property.
The value of the fund has fallen by over 40% in the last year. (I wasn't watching the performance of the fund which was a property fund).
Bank of Ireland now want me to make capital payments against the loan as they say the fund will not be able to repay the loan. There are 15 years left to run on the loan/pension.
Can they force me to do this?
I now wish to transfer the fund away from Bank of Ireland and give it to an independent broker so that I can monitor the performance more closely. I presume that I am free to do this and BoI can't prevent me from doing this?
The value of the fund has fallen by over 40% in the last year. (I wasn't watching the performance of the fund which was a property fund).
Bank of Ireland now want me to make capital payments against the loan as they say the fund will not be able to repay the loan. There are 15 years left to run on the loan/pension.
Can they force me to do this?
I now wish to transfer the fund away from Bank of Ireland and give it to an independent broker so that I can monitor the performance more closely. I presume that I am free to do this and BoI can't prevent me from doing this?