dublindamo
Registered User
- Messages
- 5
Hi,
I received a letter from the Bank saying that my Interest only repayments would be reverting to a principal and Interest repayments from December ( I took it out in September 2008).
I have the mortgage policy forms from the time and it states it is Interest only and does not state that it would revert after any length of time to Prinicpal and Interest (Even at that 5 years and 3 months seem a strange time to revert).
Can the bank force me to pay Principal if my policy states somethign else?
I received a letter from the Bank saying that my Interest only repayments would be reverting to a principal and Interest repayments from December ( I took it out in September 2008).
I have the mortgage policy forms from the time and it states it is Interest only and does not state that it would revert after any length of time to Prinicpal and Interest (Even at that 5 years and 3 months seem a strange time to revert).
Can the bank force me to pay Principal if my policy states somethign else?