Coronavirus mortgage holidays

Dandytf

Thanks all reply's
Hopefully I'll Manage until necessary, Guess it will take a call to ask Natwide if required, though my small overpayment reserve would get used 1st I suspect.

sasha20

Check with your mortgage provider, but the two rules that banks seem to have agreed on are:

1. This will not adversely impact your credit file. Sure - the balance data will not reflect your mortgage balance decreasing, but that really is not a big deal at all as long as there are no missed payment flags on there.
2. The deferral will not extend the life of the mortgage - it will simply be a pause and the rest of your mortgage payments will be recalculated to still repay by the same date which means they will increase. The longer you have to go on your mortgage, the less the increase will be.