Payment break on Mortgage

[Framework]

Hi all,

Looking at taking a 6month payment break on my mortgage to go travelling.

I am with Ulsterbank I have a tracker mortgage ECB + .95
Mortgage was for 135,000eur taken out in mid 2007 for 25years.
Monthly repayments are currently 535eur including TRS
I am in my 4th year now of TRS for first time buyer.

I have a few questions however - assuming Ulster Bank accept my payment break -

What happens my TRS?Do I just lose 6months of it?

I assume Ulster Bank just roll up the Interest etc on missed payments and adjust my monthly repayment figure to get it paid off within the 25yrs of the mortatage?Anyone know how much my new monthly repayment would increase by if I took a 6month break?Assuming of course interest rates etc stayed the same.

Lastly I dont want to lose my tracker,could this give ulster bank reason to?It says I am entitled to apply for a payment break of up to 6months in my contract

Thanks for any help,
FW

 

[gerdywerdy]

In B of I

I took a three month holiday and went back on the same deal as before except there was an 18 euro increase in payment to make up for missed payments

hope this helps

 

[PyritePete]

yes you can get a moratorium usually for 3 months (depending on who you are with) or longer. Monthly increases to take into account 6 month break

 

[thespecialon]

I assume you would lose your TRS as its on interest paid..you wont technically be paying interest for 6months,hence you lose it..maybe you should confirm with revenue however