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Mortgage Repayment Holiday
Rock_fan35
Posts: 20 Forumite
Hi,
I've been thinking about remortgaging to get a better deal and free up some cash for home improvements. Through this site I've found some great deals. But that's not really my question. .
In looking at my current Halifax mortgage online it states I'm entitled to 6 months repayment holiday. Is it worth taking this now to free up a little cash before remortgaging with a new lender?
Had considered doing this for 2 months while I track down the best new deal.
Grateful for any thoughts on this.
Thanks.
I've been thinking about remortgaging to get a better deal and free up some cash for home improvements. Through this site I've found some great deals. But that's not really my question. .
In looking at my current Halifax mortgage online it states I'm entitled to 6 months repayment holiday. Is it worth taking this now to free up a little cash before remortgaging with a new lender?
Had considered doing this for 2 months while I track down the best new deal.
Grateful for any thoughts on this.
Thanks.
0
Comments
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Surely you will be paying interest during the time you are taking a payment holiday so will be increasing the amount need to borrow?
Unless you can find a savings account that offers the same/greater rate than your current mortgage rate I wouldn't bother.2014 Target;
To overpay CC by £1,000.
Overpayment to date : £310
2nd Purse Challenge:
£15.88 saved to date0
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