Mortgage break - which option?

[bonnie1]

Apologies for the error in my last post.

I have approached my lender for a mortgage break and have been offered either:

a 3 month moratorium

9 months interest only payments

Ideally I would like a moratorium but I am a little worried about my details going on ICB. The letter from the lender states this information would be kept on ICB for five years. My main concern is - supposing my circumstances changed in the next few years and I wanted some sort of finance - would this go against me?

 

[7seats]

When changing jobs a few years back I took a 3 month moratorium. Later that year I was declined credit for a tv in Harvey Normans. Naturally that worried me so I paid the 6 euro to the Irish Credit Bureau to receive my credit history. What happened was that was that sometimes the M for Moratorium is construed as M for missed !

So, in short, taking a moratorium has no impact on your credit rating score unless someone misinterprets the report (I had this confirmed in writing to me by the ICB)