mortgage breaks

neil_walford

hi, i am struggling to pay my mortgage probably for the next 3 months as my wage has been capped due to hard times glad i still have a job though.
i spoke o my lender accord mortgages asking for just a 3 monthe break/holiday and i basically got the cold shoulder from them and not very helpful is there anything more i can do. i thought lenders were supposed to be helping but all i got told was if i miss 3 payments then they would start legal. HELP

Dowsett

hi,

lucky you, i just lost my job yesterday.

i tried to do a payment holiday with my lender. bear in mind lenders are different.

they said to me that i have neg equity on the house so they wouldnt let me do it and id have to have paid 6 months before i could do it, which wasnt a problem, only the neg equity.

i kind of got the cold shoulder as well. didnt seem to want to do anything else for me, and they probably wont. thats just the way they are at the moment. everyone wants their money.

maybe someone else can give better advise.

beecher

Taking a break would lead to the payments being higher in the future, so it is probably best to avoid if at all possible. Could you go onto interest only for a period? If you go onto the Debt Free Wannabee threads and post a Statement of Affairs, you'll get advice on where you could cut down on household bills, ie ditch Sky, sell car, save money on utilities/food, council tax over 12 months rather than 10.