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Mortgage Holiday ?
ErolGirl
Posts: 59 Forumite
Hello, I am a home owner with my fiance, and we love our house. We've done a lot of work on it, and so do not want to sell. However, we have been interested in potentially moving to Portugal. I would love to move and try it out for a year to see how we get on. I don't want to sell our house in haste to then decide after 6 months it's not for us and have to find another house if we move back.
Is there any option of having a mortgage holiday to allow for this type of thing?? I didn't think it was a thing but a colleague just mentioned it and seemed positive it was a thing!
Is there any option of having a mortgage holiday to allow for this type of thing?? I didn't think it was a thing but a colleague just mentioned it and seemed positive it was a thing!
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Comments
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You presumably have looked into this but you are aware a UK citizen "moving to Portugal" may not be as easy now as it used to be, after the dreaded B word?
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Some lenders allow it but all you are doing is extending the length of your mortgage and incurring more interest.
You would need to check your own mortgage paperwork but I wouldn't think a lender would be that keen if you were leaving the country for potentially a year. There may also be other conditions, here is the Halifax criteria for example - https://www.halifax.co.uk/mortgages/existing-customers/take-a-payment-holiday.html0 -
What do you intend do with the property for the year? Leave it empty or rent it out.
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I was going to say exactly the same. Unless they have Irish passports (or for another EU country)?la531983 said:You presumably have looked into this but you are aware a UK citizen "moving to Portugal" may not be as easy now as it used to be, after the dreaded B word?1
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