Hi
I currently own a house worth approx €140k and mortgage of €310k. As its a tracker I can afford the repayments so I want to stay. Although i am making repayments every month and not in arrears i have little left over and no savings due to reduced income.
My question is as the house is run down i.e. damp, roof maintance needs, broken floors etc, I cant afford to fix these essential items in the house (Possibly up to €3-4k worth).
Is it feasible to approach the bank to ask to switch to interest only period or payment holiday to help pay to fix these?
It would help upkeep the house and its value. I would also have to ask that they add the missed capital onto the balance of the mortgage as couldnt afford extra repayments at end of term.
I currently own a house worth approx €140k and mortgage of €310k. As its a tracker I can afford the repayments so I want to stay. Although i am making repayments every month and not in arrears i have little left over and no savings due to reduced income.
My question is as the house is run down i.e. damp, roof maintance needs, broken floors etc, I cant afford to fix these essential items in the house (Possibly up to €3-4k worth).
Is it feasible to approach the bank to ask to switch to interest only period or payment holiday to help pay to fix these?
It would help upkeep the house and its value. I would also have to ask that they add the missed capital onto the balance of the mortgage as couldnt afford extra repayments at end of term.