Mortgage help - your experience

Allanw74

TL:DR mortgage company only offering “bad” support due to redundancy.

I was made redundant (through no fault of my own) at the end of March.  I was lucky enough to have 2 months notice and some rainy day savings.  It has now got to the point where I need to start reducing out-goings to enable me to keep the money in order until a new job happens. 

I called up Santander expecting to be offered help in one of four ways;

a mortgage holiday
a temp swap to interest only
a term extenstion
an agreed temp reduced payment. 

Of these 4 only the temp reduced payments increases your short term debt and impacts your credit score. 

Of course this was the only option Santander were willing to offer me. 

When I asked about a payment holiday I was told “no”, when I asked about interest only I was told to apply for a permanent change, and I didn’t ask for a term extension as this is not really going to help. 

Has anyone else struggled to get help that will make a difference and not impact majorly on your credit score from Santander or other providers. 

I’ve had to not make any changes for the time being and am hoping the government announcement last week will end up helping me. 

Please let me know your experience.