Payment Holiday?

Tayus

Hi guys,

I'm about to be made redundant from work so obviously I'm desperately trying to get my finances in order, my question is do you think that if I rang up the mortgage company they would let me take a payment holiday for a couple of months? I'm with Santander and not in any type of deal at the moment as im on the SVR.

Many Thanks.

opinions4u

I doubt they'd let you take a payment holiday for reasons of redundany.

More likely that they'll manage you as an arrears case. You should prioritise payments such as mortgage (where you could lose your house) and council tax ahead of unsecured loans.

themull1

if you do want to take a payment holiday, don't tell them you are being made redundant, and try and get the holiday for as long as possible, this will maybe give you time to get another job.

worried_jim

I spoke to Santander last week (Abbey mortgage) and asked about payment holidays and was told they don't do them.

bigheadxx

You could see if you could make "interest only" payments for a few months.