mortgage holiday with NR

juliesg

im thinking of having a mortgage holiday ive had them in the past but ive read on here that people have been turned down did they give you any reason why they turned you dowm

Thrugelmir

juliesg wrote: »

im thinking of having a mortgage holiday ive had them in the past but ive read on here that people have been turned down did they give you any reason why they turned you dowm

Peoples circumstances are different. You obviously feel that you might from the tone of your comment?

What grounds are you looking to take a payment holiday on? You say you've had one before was that recently?

Jewel_2

Thrugelmir wrote: »

Peoples circumstances are different. You obviously feel that you might from the tone of your comment?

What grounds are you looking to take a payment holiday on? You say you've had one before was that recently?

Don't want to hijack the thread - we have a NR mortgage and we've always taken a one month holiday per year (mortgage, that is!). Is that bad for your credit history?

beecher

Jewel, it isn't a great thing to do as it is authorised arrears - should be seen as a very last resort, rather than something to get into the habit of.

juliesg, people have been refused a mortgage holiday due to having a high LTV, or being seen as too big a risk.

I'd advise going onto the Debt Free Wannabee forums for help on budgeting so as you don't need to go into arrears with your mortgage.