C&G Payment Break Agreed

tommos

Hello everyone
I have a couple of questions that hopefully someone on your forum can give a view or opinion on.

I recently managed to get my BS (C&G) to give me a 3 month payment break based on my previous faultless payment record over 25 years with them and several mortgages. This has allowed me to deal with some unexpected one off costs to repair my fairly elderley vehicle tax it and get it through its MOT.

My question is might they extend this for a further period of 3-6 months or alternatively do you think they might accept say £100 pm against a required payment of £471 for a six month period? Its just that my work hours are likely to be reduced for an extended period.

I will owe around £230k after the payment holiday costs are added on to this interest only mortgage which has 7 years to run. Realistically the 2 bed flat would fetch £250k if sold.

Any other things worth considering?

Regards & thanks

Simon_gloster

Your only allowed one payment holiday in the lifetime of your mortgage with them. You can't apply for anymore.

Beware bombardment......

dunstonh

I will owe around £230k after the payment holiday costs are added on to this interest only mortgage which has 7 years to run. Realistically the 2 bed flat would fetch £250k if sold.

Any other things worth considering?

Have you considered posting in the debt free wannabee section? They have some very good people in there who are suffering financial difficulties in the same way you are and may be able to help more than just trying to delay the problem.

Thrugelmir

tommos wrote: »

I recently managed to get my BS (C&G) to give me a 3 month payment break based on my previous faultless payment record over 25 years with them and several mortgages.

Seems as if this is no longer the case. As has been suggested already get over to the Debt Free Wannabe board and review your finances thoroughly.

Being on an interest only mortgage means there's a major problem heading down the tracks towards you.