Repayment holidays on personal loans - Can they affect future borrowing??

hackettpso

As simple as the title suggests - I have two personal loans both with the Halifax and have had so many things to pay for all at once.

I have the option to take repayment holidays on both loans which would help to ease the strain, but will this affect any future borrowing i may wish to apply for?

I am in no danger of not making all of my monthly commitments, but a repayment holiday would make life so much easier in July, but i don't want to do it if it later jeopardizes potential future borrowing.

Tixy

Should have no impact with other potential lenders.


Could have a slight impact with that particular lender.

Thrugelmir

Tixy wrote: »

Should have no impact with other potential lenders.

I would say that it's a clear indication of financial distress.

Tixy

Thrugelmir wrote: »

I would say that it's a clear indication of financial distress.

I don't think it would be picked up by a lenders matrix/internal assessment of a person's credit file.


Except possibly by a potential mortgage lender.