How helpful are Northern Rock if you need a few months payment holiday?

Becks045

I know NR offer a payment holiday. We have used ours and the mortgage is all paid up to date. I'm trying to find out what the process is (credit check or internal checks or simply just getting a nice person on the end of the phone) to whether its possible to have 2 or 3 months holiday payment.

Does anyone have any experience of this with NR? On their website they say they offer payment holidays of up to 6 months etc for career breaks/new baby etc but I wondered what the process is and whether in this climate they are still offering that.

If anyone can offer some words of wisdom would be greatly apprecaited.

Thanks.

Ian_Griffiths_Halifax

They are still offering payment holidays and career breaks. They are normally good and helpful when asking for the facility.

All NR mortgages allowed you to take a months holiday once you had made 9 payments, then if you didn't take the holiday and paid 18 payments you could take 2 months holiday, and after 27 payments 3 months. That's the maximum you could take without having made overpayments at some time. I'm fairly certain though that if you take the hliday (1,2 or 3 months) you can't take another for 12 months.

If, as you say, you've used yours, when was it? If it's more than 12 months ago then you may not be able to take the Payment Holiday, but you may be able to use the Career Break.