Would the bank allow interest only

R

robbie00

Registered User
Messages
155
Hi,

I am in my house 5 years this year and I have never missed a payment mortgage/loan or any bills. Unfortunately some houses in my area have been discovered to have pyrite. I was to get these tests done to see if my property has this but its costs around 4k to get this done maybe more.

Do you think a bank would let me go interest only for 6 or 12 months so I could afford this? I do not want to get a loan for this as I currently pay back another loan at the moment.

If I do have pyrite my house is covered to get this repaired and if I dont I have piece of mind the house is fine.

All advice appreciated.
 
robbie00 said:
Hi,

I am in my house 5 years this year and I have never missed a payment mortgage/loan or any bills. Unfortunately some houses in my area have been discovered to have pyrite. I was to get these tests done to see if my property has this but its costs around 4k to get this done maybe more.

Do you think a bank would let me go interest only for 6 or 12 months so I could afford this? I do not want to get a loan for this as I currently pay back another loan at the moment.

If I do have pyrite my house is covered to get this repaired and if I dont I have piece of mind the house is fine.

All advice appreciated.
Click to expand...


Partly covered it would seem. http://www.independent.ie/national-...ic-hits-20000-newly-built-houses-2073508.html

nasty thing to have :( all you can do is talk to your bank as it would be in thier interest too, to have this sorted.
 
I am covered fully under Premier garuantee as I have already spoken to an engineer who advised me of this but I would need to put out the initial testing csts etc circa 4k.

So I hopefully can go interest only and then find out whether I have i or not. Hopefully I dont have it as I dont seem to have the symptm but some houses within the estate have so it doesnt look good.

Just need interest only to get the tests done.
 
There is no way of knowing without asking them, not being smart but all lenders differ slightly in their reasoning and even then there are different circumstances to cases so best option is to ask and see.
 
You must log in or register to reply here.
Back
Top