Putting off mortgage payment

grilli

Can anyone give me any advise on whether or not to postpone payments on my mortgage over the next 2-3 months, with Christmas and new arrival just before coming.

lisyloo

Unless you have a flexible mortgage where "holidays" are allowed then I would say - definitely not.

You will go into arrears and it will appear on your credit record.
It will make it difficult to get credit in the future and this will stay on your record for quite a while.

Your mortgage cmpany will also contact you and consider repossessing.
They may take action quite quickly now because prices are falling so they might want to sell quickly.

If you are having problems then contact the CAB but the usual advice is to KEEP IN CONTACT with your lenders and PAY SOMETHING ven if not the full amount.

You need to look very carefully at your spending.
You shuld not be considering spending loads of money on Xmas present s if you can't afford the mortgage.

grilli

never had problems paying mortgage and not spending loads for christmas, just with partner now being so close to birth and only receiving maternity pay. had to cut back slightly, now with a 5 year old and baby coming just thought it would be easier to have holiday from payments, obviously i'd ask Northern Rock about it first but just thought i'd ask her first to see if anyone had been in similar position.