Taking break from saving-Credit History

EvenStevens

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I have a deposit account with KBC into which I pay an amount every month. The terms of the account say that I can take two breaks from saving if needed within 12 months. I'm just wondering if I were to do that would it have serious implications on my credit history down the line if i was looking for a mortgage. Thanks.
 
Savings history and credit history are not the same thing - you could almost say they are opposites. Your credit history relates to your borrowings (defaults, missed payments etc.).
 
Thanks for that.
I suppose it's more of a Savings History question then. I was wondering from the perspective of applying for a mortgage . If they look at your ability to save every month to get an idea of what you could afford to pay back as a mortgage would taking a break like that affect things.
 
Thanks for that.
I suppose it's more of a Savings History question then. I was wondering from the perspective of applying for a mortgage . If they look at your ability to save every month to get an idea of what you could afford to pay back as a mortgage would taking a break like that affect things.

Yes - it shows a smaller per month savings amount when averaged over the period.
 
Would be looked at more on a year by year issue .
eg if you saved 4800 on average over each year , its fair to say you are good on that alone for mortgage 400 per month.
there can be months when nought goes in . sickness. holiday etc. or month when more goes in eg bonus.

for your own view , have a check and see what mortgage your savings would cover , so as to see how you are progressing , and good luck.
 
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