If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)

Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie

Mortgage Break

sapper · 2007-07-24 14:03:15

I have an interest-only mortgage on an investment property and I am thinking of selling. Does anyone know if my mortgage provider would allow me to take a break from repaying for a few months while I sell it? Don't want to ask them directly in case I have to change my story ;)

Options

24-07-2007 3:03pm

#1

sapper

Registered Users Posts: 423 ✭✭

Join Date: November 2004

Posts: 283

I have an interest-only mortgage on an investment property and I am thinking of selling. Does anyone know if my mortgage provider would allow me to take a break from repaying for a few months while I sell it?

Don't want to ask them directly in case I have to change my story

0

Comments

Options
#2 24-07-2007 3:19pm
The_Conductor

Moderators, Society & Culture Moderators Posts: 32,280 Mod ✭✭✭✭

Join Date: May 2002

Posts: 30615

I doubt banks get asked this about investment properties all that often...... They probably would be prepared to take a payment holiday from you- providing the sum accruing over the period of the payment holiday was added onto the capital lumpsum originally borrowed (i.e. you would owe them a much higher amount). It may be simpler to organise bridging finance- as its possible that banks may not be happy to release equity on investment properties in the current climate, irrespective of what amount of equity is in question.

0