ButtermilkJa
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The below was mentioned on another thread...
Would this be an acceptable reason to take a break in the mortgage? If so, would it be a good/bad idea to do this (in terms of how much it would cost me in the long run. Still 30-odd years left on mortgage!)?
Has anybody any experience of what would UB would regard as an acceptable reason? I have been paying my mortgage for over 3 years without any problem. I have a car loan of €7k which I would like to pay off asap as I could really do with freeing up the €360 p/month it's currently costing me. Taking a 6 month break would enable me to clear the loan in full.I'm with the Ulster Bank for my mortgage and their policy is you can only take one payment break for the life of your mortgage, the max is six months and you have to put the request in writing to them explaining why you want/need the break...
Good Luck
Would this be an acceptable reason to take a break in the mortgage? If so, would it be a good/bad idea to do this (in terms of how much it would cost me in the long run. Still 30-odd years left on mortgage!)?