Nationwide payment holiday

FORESTBRI

Has anyone succesfully applied for and got a payment holiday recently from Nationwide???
I am finding times very difficult and rang to ask about one, i wanted to use the mortgage money to paty off some other debts. They didnt want to know at all!!!!! Any help very much appriciated

Tuscan

we had one in 2008 when we had a baby, had no problems getting it just rang up and they said yes there and then. was told we were allowed 2 payment breaks over the 25yr term of the mortgage. each brake can be for up to 12 months each..

we was about 8yrs in at the point of the holiday, and a lot of equity in the house, so may be thats what they look at.

guess they have tightened up on it now

FORESTBRI

Same here we had one a few years back with no problem at all, they seem to of tightened it up and really were not very helpful at all really!!!!

dunstonh

FORESTBRI wrote: »

Same here we had one a few years back with no problem at all, they seem to of tightened it up and really were not very helpful at all really!!!!

Too many people were using them as holidays and not as authorised arrears for when they were in trouble.

It may help now but it can also be a sign of a bigger problem and a payment break may just be postponing the inevitable. Or it can even make it worse. So, you tend to find the lenders being more responsible now (horse may have bolted but that stable door needs shutting!).