Is it possibly to temporarily reduce to interest only?

startingout2016

We took the initial 3 month mortgage holiday as we were both on furlough. 

I’m now out of work but husband is back to work. 

I’ve been offered the extended mortgage break but been warned this may affect future borrowing so I am wary of doing it and use credit cards instead to help worth the shortfall. 

I wondered if asking for a temporary reduction to interest only mortgage would be better and not have an affect on future borrowing. 

Our lender is nationwide if anyone has experience of this 

thank you 

yksi

You have already taken the mortgage holiday, so it is already visible in your credit history. It's not dramatic damage, but the damage is already done, so to speak. If it were me I'd extend the holiday or take the interest-only option rather than rack up the credit card debt. Your income is dicey right now and you don't want to add to your debt.

Good luck on your job search.