Halifax mortgage holiday (corona) and future borrowing

billycoco

Hello everyone
I would appreciate some advice please.
We currently have a three year fixed rate mortgage (one year in) with Halifax, this is our third new rate with them since buying the house seven years ago. Never missed a payment. My income has decreased due to covid 19 and we are considering taking the mortgage holiday on offer to give us a bit of a buffer. However, we have been planning and still hoping to move to a  different area and take out a slightly bigger mortgage this time next year.... I was wondering if taking out the corona mortgage holiday would impact our chances of getting a mortgage with a new lender? If this is the case I would rather not do it and eat into our savings if necessary. 
I've looked online for advice, and unfortunatley the Halifax website doesn't mention the impact the holiday  would have on credit reports etc. 

Thank you in advance for any advice you can offer. 

EverythingIWant

It will not effect your credit rating and your ability to borrow in future. So long as your future income is maintained. If a lender was caught discriminating people who took a mortgage holiday during this crisis they would be kicked by the FCA. 

SeanG79

And how would you know if the reason for the decline was the payment holiday, when a lender doesn't have to ascribe a reason other than to say "does not meet our minimum criteria".

[Deleted User]

In normal times some lenders will note on credit reports that a payment holiday was a missed payment (as it deviates from the original agreed schedule).   That would mess up the chances of getting a new mortgage. 

In these times, most (all?) lenders have agreed to not have any credit implications for taking the holiday.   

Just be aware that the breathing room you are creating will most likely result in a higher mortgage payment at the end of it

billycoco

Thank you for all responses so far very much appreciated x