Mortgage Holidays

[DimPrawn]

Taken from the BBC

Mortgage payment holiday extended for further three months - BBC News

Makes it sound great, all you can eat, free bar, tempting pool and great healthy tan included...

[mjcp]

I can see the new question on future mortgage applications.

"Have you ever had a mortgage holiday (meaning you struggled to pay in the past)".

Mortgage application rejected.

Good! If a wobble 5 yrs and 11 months ago is relevant to a lending decision now, so should the fact that someone had to use a holiday in the current time frame, when they need a loan in 5 yrs and 11 months time.

Payment holidays should show on credit history, end of.

M

[northernladuk]

Good! If a wobble 5 yrs and 11 months ago is relevant to a lending decision now, so should the fact that someone had to use a holiday in the current time frame, when they need a loan in 5 yrs and 11 months time.

Payment holidays should show on credit history, end of.

M

Nah. Landlords could use it if tenants are having problems paying so just deferring until they can. Landlord shouldn't have a mark on his credit because he's helping a tenant out IMO.

[Whorty]

Rich contractors don't have mortgages. They have a massive house, all paid off, and 2 years warchest in cash waiting for the next downturn.

Only permies are saddled with debt and misery.

You only have 2 years warchest?