6 months off payments

R

Ron Burgundy

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i have heard of some mortgage providers offering a period where you don't have to make payment for 6 months over the life of the mortgage. This would be a one off and added to the rest of the payments.

Does anyone knwo which providers do this and if it is only available for the first 6 months of the life of the mortgage
 

As far as I am aware quite a few lenders offer (one year ago) this opition and the breaks can be taken at any point over the life of the mortgage.

Jaid
 
PTSB offer it - but only at the start of the mortgage. See
 
[broken link removed] let you take repayment holidays of up to 6 months after you've been repaying for between 2 - 4 years depending on the LTV.
 
Surely they are all prepared to consider it if your hitting a specific temporary financial bump? I thought this was standard practice across the board?
 
The details of your mortgage may be relevant to the lender evaluating a "repayment holiday" request even if they don't normally facilitate of advertise these. For example what was the original loan amount, how much is outstanding, how long are you into the mortgage term and what is the value of the property? I would imagine that if you have a low LTV and/or are well into the original term and/or have reduced the original capital balance significantly then they might be more inclined to consider this request than if you only recently mortgaged at a high LTV. Maybe ask a good broker for advice?
 
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