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NR payment break
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dollarjon
Posts: 124 Forumite
HI everyone,
i have received a card through advising i can take a payment break from october for a month. I am thinking about it but is it just a break from the capital payment - do they still take the interest part of my mortgage? or is is a complete month free?
thanks for any input - i will call them somtime today if no replys
i have received a card through advising i can take a payment break from october for a month. I am thinking about it but is it just a break from the capital payment - do they still take the interest part of my mortgage? or is is a complete month free?
thanks for any input - i will call them somtime today if no replys
0
Comments
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When you take a payment break interest will still accrue on the capital amount.
Therefore, payment breaks are generally not a good idea for borrowers.In case you hadn't already worked it out - the entire global financial system is predicated on the assumption that you're an idiot:cool:0 -
It's a complete month mortgage free. You don't pay the repayment or the intertest. The interest is added to the overall amount of the mortgage.poppy100
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