The usual time frame for deferral of mortgage payments is 6 months. No harm in meeting with your lender and discussing the options, given a higher qualification at the end etc. they may be able to provide additional help in this case.I haven't heard of any banks giving payment holidays for that sort of time.
You would possibly be better off going interest only for a 2 year period which could take upto a third of the repayments for that period.
Interest only is only a viable option if you are well into your mortgage term.
Interest Only is a viable option, and sometimes the ONLY viable option, for when someone wishes to lower their repayments for a specific amount of time.
What finanical assistance if any do you think I could qulify for if I am doing a post-grad ?
There IS financial assistance available for postgrads - I should know, I'm getting it.
Under what scheme(s)?I will get around €5k towards my fees and €3110 for the year.
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