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Mortgage Holiday conditions
Money_worrier_1
Posts: 2 Newbie
Please can you inform me if:--
The Halifax plc can alter the conditions of my original mortgage offer of 2009
I took out a mortgage in 2009 and on the documentation of " Information about your Mortgage " and Mortgage Conditions it says that a payment holiday is available up to 6 months if account not more than one month in arrears. The account is not in arrears. It states that a mortgage holiday is available if the mortgage is not more than 97% of property value.
The mortgage of £227,624 is 90.25% of valuation of property £252,500.
Halifax now say that they have changed their conditions and I am not allowed a mortgage holiday.
Can the Halifax change the condition of a mortgage without infoming me?
Can the Halifax change conditions of original mortgage offer? Is this a breach of contract?
I would appreciate if you could inform me of the law.
Thank you
The Halifax plc can alter the conditions of my original mortgage offer of 2009
I took out a mortgage in 2009 and on the documentation of " Information about your Mortgage " and Mortgage Conditions it says that a payment holiday is available up to 6 months if account not more than one month in arrears. The account is not in arrears. It states that a mortgage holiday is available if the mortgage is not more than 97% of property value.
The mortgage of £227,624 is 90.25% of valuation of property £252,500.
Halifax now say that they have changed their conditions and I am not allowed a mortgage holiday.
Can the Halifax change the condition of a mortgage without infoming me?
Can the Halifax change conditions of original mortgage offer? Is this a breach of contract?
I would appreciate if you could inform me of the law.
Thank you
0
Comments
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Can the Halifax change the condition of a mortgage without infoming me?
A contractual event they cant but a non contractual option they can. Payment holidays are non contractual events. Its a feature that is not guaranteed.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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