Mortgage payment holiday

bugbabe1970

Hi everyone,

I have had a repayment mortgage with the Halifax for just over 3 months. I am having some personal difficulties at the moment and was thinking about asking them for a 2 month payment hoilday. Has anyone done this with the Halifax? I was also ondering what kind of reasons for having the holiday would be acceptable?

Thanks All

Meant to say, had the mortgage for just over 3 years!

handytips

Asking for a repayment holiday 3 months into a mortgage is likely to be given short shrift i am afraid to say. If you overpay on your mortgage the lender will often let you take a holiday by the amount you have overpayed. If you are in that much difficulty after 3 months your situation would have to be dire for them to consider this.
What is the situation that warrants you wanting to take a payment holiday ?
As the question has to be asked why did you take a mortgage 3 months ago and find yourself in difficulties now.
Speak to your lender before your situation deteriorates further. But i would say try all avenues to pay your mortgage even if they turn you down for a payment holiday.

_Andy_

bugbabe1970 wrote: »

I was also ondering what kind of reasons for having the holiday would be acceptable?

State the truth

bugbabe1970

Sorry my mistake, i meant to say Ive had the mortgage for just over 3 years!

handytips

In that case they may well be more receptive to your situation. Tell them your situation and why you are having difficulties and also give them a timeframe as to when you will be able to resume normal payments.