Jump to content

Mortgage Payment Holiday


Rich
 Share

Recommended Posts

With the Government saying that most people can take a mortgage holiday for 3 months if they're up to date with repayments, I've decided to take advantage of this.

It doesn't affect your credit rating and with the current situation it's pretty much given with no questions asked. Our income will be dropping over the next 3-6 months so this will definitely help. It'll add about £5 a month to the repayments when they start again.

Is anyone else doing this?

Link to comment
Share on other sites

Yep, I applied to Barclays online and within three days have had confirmation text that this will happen. Pleasantly surprised at the efficiency of the process.

Don't cancel your direct debit or anything, they will take care of it all and advise later what will happen to repayments.

Will also be trusting that I'll get some self-employed grant too, but not too sure as yet if it will be calculated on average of last three year's trading profits or just the 2018-19 year. I hope its the latter as it will pay more.

But there's nothing you can do - just wait and they should be in touch.

Link to comment
Share on other sites

That's good, it'll definitely take some of the pressure off.

I have my next mortgage payment going out in a couple of days so will apply for it now, I think my bank said they need 10 days notice.

Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

 Share

×
×
  • Create New...