The families of deceased buy-to-let investors could be pursued for the negative equity portion of the late investor's property loan, according to warnings from the Irish Brokers' Association (IBA).
Owner occupiers are typically required to have life cover in place to cover their mortgage in the event of their death. However, the IBA has warned that such cover is not usually mandatory for investment mortgages, especially those drawn down during the boom.
"Uninsured buy-to-let mortgages...
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