Will a payment holiday count against me?

bclark

I currently have my mortgage with Nationwide and have done for the last seven and a half years. I am hoping to move later this year and ideally want to keep my mortgage with Nationwide as we currently have a good rate.

Just over 3 years ago we had a 6 month payment holiday in order to use the money saved to do a few improvements to our current house. This was all arranged properly and is an advertised feature of our mortgage but I am now just wondering if this will count against us in their 'scoring' of our new application?

We have no missed payments or issues at all in all of our years with them.

Thrugelmir

No reason it should. The NW dropped this feature from their mortgage products in 2010. So in the future a holiday wil be viewed differently

plane_boy2000

We had a 5 month holiday with BOS a few years back and its never affected us. Don't think it even showed up on my credit report

moomoominx

I am with halifax and a few years ago - we had a 6month payment holiday -and i asked the same question - and no it diddnt go against me as its an agreement between you and your lender - its not a default on a payment as it has been agreed to - and its never shown up on credit searches or anything - so you should be fine -

bclark

Thanks all. I did suspect that would be the case as it was all properly arranged and was an advertised feature of the mortgage at the time but thought I would check as you never know in todays world what mortgage lenders will do.