Northern Rock Payment Holiday

Dogjen

Hi All, Phoned Northern Rock (asset management) today to try and arrange a payment holiday but things seem to have changed a bit since the last time I used this facility. Last time they only asked what it was for and then it was granted. This time however I was told I would have to have an earnings assesment with questions on my income and expenditure, my question is do they not just carry out a credit check to see what your expenditure is on credit cards loans etc. Was told to phone back later as you now need to phone in a slot the month before you want the payment holiday. Thanks.

Thrugelmir

Sounds not from what you've posted. They may well ask detailed questions about your outgoings.

Lenders now have a duty of care towards borrowers. To ensure that they can afford the increased repayments once the holiday period is over.