Repayment Holidays, implications

mick307

Hi,

I have a mortgage with C&G for around £80k, paying £850/month with around 10 years left on the main part of the mortgage (figures are rough). We are considering a repayment holiday for possibly 4 months to pay some other things off and reduce our monthly outgoings. Problem is that C&G are unable to tell me the back end implications such as what will our new monthly payment be when we start paying again.

Does anyone have any experience of this and can you give me a rough idea of how much the payments will rise?? or is there a calculator somewhere i can use??

Also is this a good option to be considering or is there an alternative and better way to acheive what we want?

Thanks,

Mick.

mick307

Bump for the late shift!!