Hi I have two buy to lets .
(1) Owe 250,000
value 90,000
intrest payments 450
and rent in 750.
(2) Owe 400,000
value 240,000
interest payments 1447
not rented
arrears 6000.
(3) On my family home
I owe 300,000.
value 220,000
interest payments 380
(4) visa 15,700
(5) loans to family 9,000 .
My income 40,000 and my wives 16,000. we have 3 children and would hope to keep our family home.
. Aib btl sold with a shortfall of €140,000 and that shortfall was sorted with a full and final payment. This was February 2015.
.
Yes I haveYou've lost me here. What full and final payment? Have you a letter from AIB saying you owe nothing to them now?
Yeah ptsb are looking for a full interest plus part capital payment for the next 16 years at the end of the 16 years they expect the value of the house to have risen by enough that the sales proceeds will repay them in full.Do I have this right.?
You owe PTSB €160,000 from the shortfall on the sale of a btw. There is an interest rate of 3.35% on this
Your own home has a mortgage of €300,000 with PTSB interest rate ECB+ 0.8%, and they have a charge over the home for the €160,000 as well.
PTSB want €1,187 a month you can afford €800 a month.
This situation will drag on for years, some people hate the idea that there will never be closure, but really does it matter.
My idea is, pay PTSB €800 a month for ever, (which seems to cover the interest and a small bit of capital). They will not be able to repossess your home. See BBs posts on this. If you have any spare money gift it to your children, €3,000 at a time
I paid aib off so as they would write off the bulk of the risidual debt and I was expecting ptsb to follow suit .If AIB didn't have a cross charge on your PDH then why did you pay them off and not PTSB?
Or am I misreading this?
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