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My experience with 2 different mortgage companies, re: mortgage holiday
LeeAHarris
Posts: 5 Forumite
I have 2 mortgages, and our income is severely reduced to due to consequences with the virus (one of my mortgages is on a holiday let seaside apartment, which is, of course, currently empty and will be for the foreseeable future), so I called to ask for the three month mortgage holiday:
1) Rang Leeds Building Society. On hold for 3 minutes, spoke with adviser for 3 minutes. Three month mortgage holiday agreed. Interest will continue to accrue (of course) so mortgage length might extend.
2) Rang Kensington Mortgages. On hold for 5.5 hours (3 hours yesterday, 2.5 hours today), spoke with advisor for 10-15 minutes. One month mortgage holiday agreed (they're not doing three month ones), and have to ring back in a month if I want another month. More work for them, more hours on hold for me and all the rest of their customers. Interest will continue to accrue (of course) and after the mortgage holiday they will want missed payments to be brought back up to date or a repayment plan agreed.
What are your banks saying?
1) Rang Leeds Building Society. On hold for 3 minutes, spoke with adviser for 3 minutes. Three month mortgage holiday agreed. Interest will continue to accrue (of course) so mortgage length might extend.
2) Rang Kensington Mortgages. On hold for 5.5 hours (3 hours yesterday, 2.5 hours today), spoke with advisor for 10-15 minutes. One month mortgage holiday agreed (they're not doing three month ones), and have to ring back in a month if I want another month. More work for them, more hours on hold for me and all the rest of their customers. Interest will continue to accrue (of course) and after the mortgage holiday they will want missed payments to be brought back up to date or a repayment plan agreed.
What are your banks saying?
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