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maternity and mortgage breaks
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bellamoon
Posts: 1 Newbie
We are hoping to try for another baby. Last time I was on maternity leave I saved a lot of money so that I could pay my contribution to the mortgage. Now, I can't save anything as all of my salary goes on running our household. My husband stays at home to look after our little girl.
We are in the 3rd year of a 5 year fixed with Nationwide. If we were to take a mortgage break, what would the consequences be? What would the disadvantages be?
We are in the 3rd year of a 5 year fixed with Nationwide. If we were to take a mortgage break, what would the consequences be? What would the disadvantages be?
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If all your income currently goes on running the household, how will you afford to feed/clothe etc another mouth?
A mortgage break defers the problem, but accumulates interest to turn it into a bigger problem.
Check your lender's own stance. Some allow breaks, some have criteria, some don't allow them.Act in haste, repent at leisure.
dunstonh wrote:Its a serious financial transaction and one of the biggest things you will ever buy. So, stop treating it like buying an ipod.0
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