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Remortgage advice 15 04 13
Goodeluck11
Posts: 10 Forumite
Please i need a help here. I have an option to take a payment holiday of one month on my mortgage. The problem I have now is, I need to do some maintenance on my property and I am thinking of one month holiday from my repayment so that i can use the money to carry out the repairs.
The problem I have now is to know whether if I take the payment holiday for one month, will it affect my credit rating as I am looking to change my lender in few months time. Please your advice is needed
The problem I have now is to know whether if I take the payment holiday for one month, will it affect my credit rating as I am looking to change my lender in few months time. Please your advice is needed
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Comments
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Hi Goodeluck
It shouldnt effect your credit score, if you go back to your mortgage offer you are allowed 1 payment break.
But make sure you speak to the bank first.
Have you made any overpayment on your mortgage?__________________________________________
FTB
Property market value 160K
Property purchased for 93K0 -
We cannot answer this. You need to ask your lender. Some treat a payment holiday as arrears, lodging an arrangement to pay on your credit history, some don't.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0
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