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Permanent tsb Mortgage transferred to Pepper investment

  • 03-11-2020 11:14pm
    #1
    Halladubha72
    Registered Users Posts: 37 ✭


    hi I have just received a letter today from permanent TSB to say that they are transferring my second mortgage which is on a property we bought 14 years ago to let and they are transferring it over to Pepper investment. When we took out this mortgage it was on a 5-year interest only basis as we were going to sell it on but then the crash came and the value of the property depreciated. The bank has never contacted us in relation to this mortgage and we have never contacted them and so we have been paying interest only for 14 years and still owe the full amount. The property is now worth Way less than what we owe and I don't know what to do. can we negotiate with the likes of Pepper investments and try and sell the property and would they accept whatever we get for it or has anyone had any experience in this field. I don't want to contact the bank because I'm afraid of what they'll tell us 😬😬 can someone please help us. Also we have a mortgage on our family to the value of €65000.


Comments

  • #2
    John Hutton
    Closed Accounts Posts: 1,301 ✭✭✭John Hutton


    Halladubha72 wrote: »
    hi I have just received a letter today from permanent TSB to say that they are transferring my second mortgage which is on a property we bought 14 years ago to let and they are transferring it over to Pepper investment. When we took out this mortgage it was on a 5-year interest only basis as we were going to sell it on but then the crash came and the value of the property depreciated. The bank has never contacted us in relation to this mortgage and we have never contacted them and so we have been paying interest only for 14 years and still owe the full amount. The property is now worth Way less than what we owe and I don't know what to do. can we negotiate with the likes of Pepper investments and try and sell the property and would they accept whatever we get for it or has anyone had any experience in this field. I don't want to contact the bank because I'm afraid of what they'll tell us 😬😬 can someone please help us. Also we have a mortgage on our family to the value of €65000.

    Talk to a PIP and stop ignoring things. There is a good one in Waterford.

    I imagine there is equity in your family home so they will want that. Zero chance they will just accept whatever the investment house is worth and leave it at that. Your priority is to protect your family home here. You need help, again, go see a PIP.


  • #3
    Jim2007
    Moderators, Business & Finance Moderators Posts: 10,360 Mod ✭✭✭✭Jim2007


    You you already have an open thread on this topic, which you failed to respond to, please continue on that thread:

    https://www.boards.ie/vbulletin/showthread.php?p=110167714

    I am confused as to your profile, some posts suggest a 20+ young adult where as others a mature 50+ ???


This discussion has been closed.
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