Mortgage holiday

Jamesp31_2

Hi, if this is is wrong place then I apologise.  I’ve already taken a 3 month payment mortgage holiday with Skipton earlier in the year, I’m back paying full payments now - but I’m about to be furloughed and my partners new job has fallen through.  I want to apply for a further mortgage payment holiday, probably for 2 months, but last week Martin Lewis said don’t do it yet and to wait til this week.  Simple question is, when is it ok to apply, what announcements are we waiting for?

Jeremy535897

See https://www.fca.org.uk/news/press-releases/fca-announces-further-proposals-support-mortgage-borrowers-impacted-coronavirus

Jamesp31_2

Jeremy535897 said:

See https://www.fca.org.uk/news/press-releases/fca-announces-further-proposals-support-mortgage-borrowers-impacted-coronavirus

Jeremy535897 said:

See https://www.fca.org.uk/news/press-releases/fca-announces-further-proposals-support-mortgage-borrowers-impacted-coronavirus

That was last updated on 2 Dec, but Martin specifically said on his show last week not to ask for a further mortgage holiday yet until this week, so there must be a further update due 

MattMattMattUK

There key question is can you afford to keep paying your mortgage? If you can do so, even if it leaves you very little extra money, then do so. The second mortgage holiday will have a much bigger negative effect on how lenders perceive you. If however without the mortgage holiday you would default on some payments then a mortgage holiday is obviously better than a default.

Martin's recommendation is probably due to the changes in the procedures as the original mortgage holiday application period was due to close, but has now been extended, although as others have said above the full guidance on this from the FCA is still pending. 

Jeremy535897

There is this dated 3 November, but it too says wait:
https://www.fca.org.uk/consumers/mortgages-coronavirus-consumers