thespecialon
Registered User
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My bank offers facility to take payment break from my mortatage..I am seriously considering taking this for maybe about 12 months.
I qualily for TRS reflief as a FTB and am in year 2 of my mortatage.I believe I am a FTB for 7 years.
2 question re -payment breaks
- My mortatage is over 25 years so if I take a break of 12 months, all that will essentailly happen is it goes over 26 years? OR will there be lots more interest to pay?
Secondly - Will I lose out on a year of TRS payments ? Like will revenue count my year of mortatage break as a year twoards my time as a First time buyer?
Mortatage details are - 135,000 over 25 years at ECB + .95 , Currently in Year 2 of mortatage
I qualily for TRS reflief as a FTB and am in year 2 of my mortatage.I believe I am a FTB for 7 years.
2 question re -payment breaks
- My mortatage is over 25 years so if I take a break of 12 months, all that will essentailly happen is it goes over 26 years? OR will there be lots more interest to pay?
Secondly - Will I lose out on a year of TRS payments ? Like will revenue count my year of mortatage break as a year twoards my time as a First time buyer?
Mortatage details are - 135,000 over 25 years at ECB + .95 , Currently in Year 2 of mortatage