A colleague has multiple buy to let's on very low rate tracker mortgages. They are mostly in west Dublin and are let on a full time basis albeit at rents that are well below current market rates. He managed to finance them all on a salary of 70 k, with v low deposits obviously before the market crashed with the (crazy) lending rules at the time. Anyway since the crash he has also lost his job and has had health issues. He is now unemployed for around two years and is living off the rental income alone. The first mortgage term will end in 2025 and others shortly thereafter, all finishing by around 2028. The last three were a big mistake and were bought in 2004/5/6 - still in negative equity to the combined tune of about 500k. Others bought earlier are probably only very slightly in positive equity nowhere near 500k. He has not repaid any of the capital. He is unsure whether to engage with the lender in relation to restructuring. I wonder if he should now as opposed to waiting til 2025 when he will be 57. Do the lenders restructure loans to people who only have rental income and no PAYE ? Could a broker help ? Could he restructure some of the loans to allow repayment of some capital (to use most of the rent) plus interest to allow him be in a better position ? Is it best to do this now or should he wait til he gets a job and get 6 months payslips ? Is his only option an insolvency practitioner or talk directly to lenders ? I have read elsewhere that the lenders will appoint receivers the day after the capital is not repaid. Are they likely to put a judgement order against him for the entire NE ? Any advice welcome or similiar experiences. He would like to keep some of the buy to let's as he has put a lot of time/work into them over the years, but is not optimistic. He is paying mortgages since he was 20 with no missed payments.