struggling to make payment

themightypierre

Situation is my house that i have a mortgage on has been tennat free for a few months. I now have tennants moving in in a few weeks but have used all my credit that had built up on the mortgage to pay the last two months. Now I cannot make this moth's payment.

I called and asked for a payment break and they said no. Said i could pay just the interest but this was only saving £70. They then asked how much i could pay and i said £200 tops. I got the impression that they were basically happy for me to pay anything. Am I right or would things go apocolyptic if I only offered to pay a low ammount like £100 ? My payment is £430 generally.

opinions4u

Different lenders have different policies and fees for underpayments, so you need to understand what your lender will do for the suggestion I make below (as I don't know). This includes charges, how they'll manage the direct debit (better to cancel and reinstate later? I don't know).

If you pay £216 this month and £216 next month you will still be less than a full month in arrears. This may keep the lender off your back for longer. If you do this, look to make up the shortfall as quickly as possible afterwards.