Coronavirus Mortgage Holidays - what did your bank say?

Perks190

Saffron BS agreed to pause our payments for 3 months but at the end of the 3 months we have to repay it (the instalment amount and time to repay will be agreed at the end of the 3 months). We had hoped our mortgage would just be extended by 3 months but they refused to agree to that. They also said our credit rating will show the missed payments and we would need to submit a Notice of Correction to explain the reasons.  We agreed because we have no other choice but can't help but worry about what happens at the end of the 3 months when they want to increase our mortgage payments .

Thrugelmir

The pain will be spread over the remaining term of your mortgage. Take the time now to review your personal budget. Reduce/stop the non essentials. Ultimately your health far outweighs money. 
This is a fluid situation. Measures will be introduced as dictated to by events. When it's over there'll be a period of reflection and adjustment.