0
0scar
Guest
Hi,
I'm considering applying for a 3-month moratorium on our mortgage or a period of interest-only payments; have been on a three-day week for the last few months but thankfully going back to full time in February. During this time (over christmas too of course...) we have seriously eaten into our approved 2k overdraft & over the limit on 2 occasions; on paper we have enough coming in to cover our mortgage/credit card/credit union repayments, insurance payments, utilities etc, but want to try & get back to a regular standing in our bank account.
Having spoken to our mortgage provider & explained this, they didn't seem to have any difficulties with a moratorium in theory, and have sent out the forms. When speaking to them I didn't ask about an interest-only period - no idea how these work - but before I do I'd like to get views on which would be more sensible, given that I'm not very financially sensible (obviously). We're on a fixed rate & the balance of the mortgage is well below the relative value of the house.
Thanks.
I'm considering applying for a 3-month moratorium on our mortgage or a period of interest-only payments; have been on a three-day week for the last few months but thankfully going back to full time in February. During this time (over christmas too of course...) we have seriously eaten into our approved 2k overdraft & over the limit on 2 occasions; on paper we have enough coming in to cover our mortgage/credit card/credit union repayments, insurance payments, utilities etc, but want to try & get back to a regular standing in our bank account.
Having spoken to our mortgage provider & explained this, they didn't seem to have any difficulties with a moratorium in theory, and have sent out the forms. When speaking to them I didn't ask about an interest-only period - no idea how these work - but before I do I'd like to get views on which would be more sensible, given that I'm not very financially sensible (obviously). We're on a fixed rate & the balance of the mortgage is well below the relative value of the house.
Thanks.