New Job and Q Re Mortgage Payment Holiday

beckyc_2

Hello everybody!

Here I am with a little question!

i have been offered and have accepted a new job - yippeeeee!! but, dependant on my start date I am concerned about bill payments as I am likley to get a lower final pay from my current job and then will have to wait 5 weeks before recieving my new pay from my new job. My main concern would be the mortgage as this is the largest expenditure. I am on a 2 yr fixed rate deal at present that dosn't end till next November. Does anybody think I would be likley to be able to negotiate a 1 month payment holiday from my lender to bridge the crossover in my jobs?

I am going to ring them in the next couple of days and wondered whether any of you out there think they will be sympathetic?

Thanks
B!

HannahandMark

Hi Becky,

I had a little employment trouble about 18 months ago after having only made 17 mortgage payments. I called and explained the situation to our lender and they gave us 2 months holiday with no trouble. I think that they would rather help you now than have repayment problems later.

Be brave and give your lender a call. You will probably find that they will be happy to help you.

Best of luck

Mark

beckyc_2

Hi Mark,

Thanks for that, was it within your terms that you could take a payment holiday, or were they just sympathetic to you?

I am a bit nervy about ringing them as we have had loads of debt problems and are on a DMP, but our mortgage has never been at risk, ( i think that when you haev had probs in the past it just makes you nervous!) and the new job should help us out a lot as it is a big increase in salary for me.

Cheers
B!

HannahandMark

Hi Becky,

I have no idea wether the holiday was within our terms. A company that I was working for went bust suddenly so the first thing I did after starting to look for a new job was to phone our lender. As I said before they were very sympathetic.

I know those phone calls are hard to make but just remember that they can only say no, which leaves you no worse than at the moment, or hopefully yes; the relief when they say yes is so great that it is worth a go. You will, after all be speaking to someone who hears this story tens of times a day, you are never likely to meet and cannot penalise you in any way for asking.

Go for it! Good luck

Mark