We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Has MSE helped you to save or reclaim money this year? Share your 2025 MoneySaving success stories!
Mortgage holiday on maternity leave
Hurstsupply
Posts: 3 Newbie
We have a mortgage with a decent rate of interest which we actually got when I was on maternity leave. No issues with me having reduced salary at the time.
However this maternity leave I plan on sharing with my husband who now earns more than me. So he will be without a salary for 3 months.
While we can just afford the mortgage even on my salary things would be more comfortable and relaxed if we could take a mortgage holiday. (The alternative is to sell some shares which are fairly stagnant at the moment)
My question is around
1. How to calculate the additional cost we will have in taking 3 months off
2. How to ensure it doesn't negatively affect our credit scores.
Also welcome to give opinions if a mortgage holiday is good idea or not.
However this maternity leave I plan on sharing with my husband who now earns more than me. So he will be without a salary for 3 months.
While we can just afford the mortgage even on my salary things would be more comfortable and relaxed if we could take a mortgage holiday. (The alternative is to sell some shares which are fairly stagnant at the moment)
My question is around
1. How to calculate the additional cost we will have in taking 3 months off
2. How to ensure it doesn't negatively affect our credit scores.
Also welcome to give opinions if a mortgage holiday is good idea or not.
0
Comments
-
Was a thread here recently where a payment holiday was showing as an arrangement to pay on credit file.
Personally, unless in financial hardship I would continue paying the mortgage.
And I believe some lenders don't do payment holidays.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.9K Banking & Borrowing
- 253.9K Reduce Debt & Boost Income
- 454.7K Spending & Discounts
- 246K Work, Benefits & Business
- 602.1K Mortgages, Homes & Bills
- 177.8K Life & Family
- 259.9K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards