Have lost job - impact on mortgage

Hoopylass

Ive recently lost my job and have a mortgage with Nram (previously northern rock). I agreed a payment holiday with them for June and July last month before this happened as I was in hospital and lost wages during this period.

I do have some source of income at present through agency type work with the NHS although this isn't guaranteed and I am waiting to find out if my nursing registration is at risk. If this happens then I would be unable to work as a nurse.

What options are available to me? I am currently on a repayment mortgage outwith my fixed rate period.

Do I call the companay now and explain the situation or do I wait till after my payment holidays and I should know a bit better about my nursing.

Any advice will be greatfully accepted xx

reformedEffortmaker

I cant help, but bumping to first page to try and get you an answer :-)

Yorkie1

The lender does not need to know your current employment position as long as you feel you are able to meet your repayments.

Only if (or when) you feel you might be getting into difficulties are you advised to contact them, and don't then delay in doing so.

If you think you can continue to meet the repayments for now, and want to wait to see what happens with the nursing side of things, that would be OK.

In the meantime, if things are tight, do pop over the Debt Free wannabee board, where lots of helpful people will help you look at your outgoings to see what you can prune off them.

Hoopylass

Yorkie1 wrote: »

The lender does not need to know your current employment position as long as you feel you are able to meet your repayments.

Only if (or when) you feel you might be getting into difficulties are you advised to contact them, and don't then delay in doing so.

If you think you can continue to meet the repayments for now, and want to wait to see what happens with the nursing side of things, that would be OK.

In the meantime, if things are tight, do pop over the Debt Free wannabee board, where lots of helpful people will help you look at your outgoings to see what you can prune off them.

Thank you

Thrugelmir

Little lenders can do until you formally enter into arrears. In many respects the decisions are yours. As have to be based on your personal circumstances.