Payment holiday

obrien427

First off all hello everybody . Today i rang my mortgage provider (Nationwide) to enquire about a mortgage holiday as i have £10000 on credit cards.I pay £1365 a month mortgage repayments . If i could stop the mortgage for about nine months i could clear this easily . The nationwide told me debt consolidation does not meet there criteria for mortgage holidays . I was just wondering those any body know for what reason the Nationwide will give a payment holiday . Thanks Paul

shortchanged_2

Unfortunately I think you have shown Nationwide your hand now.

Gary123456790

Hi,

£1,365 is a fairly high mortgage payment.

Is there any chance you could increase the term to reduce the monthly payment or remortgage to a lower rate?

Gary.

John424

I probably would not have showed Nationwide my hand and consolidated the debt with one personal loan or credit card, rates are so low currently than for only a percentage or two above my mortgage rate, I would have done this route and eating baked beans on toast until the loan was severely dented! Is £1,365 high for a mortgage? I guess it's relative....

Thrugelmir

You won't get a payment holiday as a credit check will be conducted prior to a decision.

Ball is in your court to tackle your personal finances.