mortgage holiday

billozz

Goldiegirl wrote: »

There may be other options available, such as a reduced monthly payment for a short period of time, or switching to interest only for a whole or extending the mortgage term.

They might have been declined for a mortgage holiday, but there are other avenues that can be explored.

andy, this is the sort of advice i wanted the sort where someone makes a constructive comment rather than a pointless negative one. thank you goldiegirl

billozz

piglet74 wrote: »

Tell them to ask for interest only for 6 months, we got this before when my husband got paid off,

thanks for the reply

_Andy_

billozz wrote: »

andy, this is the sort of advice i wanted the sort where someone makes a constructive comment rather than a pointless negative one. thank you goldiegirl

No need to be rude. You'd been declined the holiday so it wasn't apparent whether you wanted to try requesting again or an alternative.

Thrugelmir

billozz wrote: »

no im sorry there is another camp that you have completely missed, those that earn just enough to live on and have nothing left to save.

With interest rates at current levels. Then may well struggle at some point of having a mortgage. Saving requires very little effort. No more than drip feeding away small sums over an extended peripod. .

Simon_gloster

Where was the critical illness cover? Mortgage would likely be paid off when it pays out so removes the worry.

Whilst a term extension or interest only may be an option it will have a shelf life and likely extend the term which is not ideal.