Should I Consider A Mortgage Holiday?
Coronavirus Mortgage Payment Holiday
The Government has confirmed that all mortgage lenders in the UK will offer a payment holiday of up to 3 months for people struggling to make payments as a result of the Coronavirus (Covid-19)
Is it the right time for you to take a payment holiday?
The Mortgage Hive would like to help you to make an informed decision that will work for you during the next few weeks but also for the remainder of your mortgage.
Get Expert Help Applying for Your Mortgage Break Today!
One To Three Month Payment Break
Understand the Pros and Cons
Find Out How It Will Affect Your Future Mortgage Payments
Does It Make Financial Sense
To Take A Payment Holiday?
During this unprecedented time taking a Mortgage Holiday will not affect your credit rating. Freezing your repayments for up to 3 months is appealing for most people but you need to consider how this will alter your future payments. You will still have to pay the interest from the months that you miss payments, although not immediately, it will be added to your Mortgage Balance which will change your monthly repayments.
The Payment Holiday Process
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