Deferring mortgage payments for short period

[Get N bet R]

Hi all,

I was wondering if there is a policy or are banks inclined too allow deffering Mortgage payments for a temporary period of time i.e. 2 or 3 months, I'm aware that some do at the start of the mortgage term but unsure if they would be inclined to during mortage - monthly payment 1300 with 27 years left off 30 yr term.

I've a good record - paid on time each month / no arrears or anything like that, however very tight lately and not paying mortgage would get back on track without having to take out loan / overdraft etc.

Thanks.

 

[ClubMan]

Are you trying to choose a lender on this basis or are you already a borrowing customer of a lender? If the latter then surely, short of switching to another lender, all you can do is ask your current lender about their policies on such repayment breaks? Bear in mind that while you are not making repayments interest charges are accruing.

 

[Get N bet R]

Clubman, yes already a borrowing customer of a lender (ebs) & planning to contact them drafted letter & also aware of accruing of interest. I was just wondering if Lenders do allow this option when not previously advertised like TSB for example.

 

[ClubMan]

Some lenders do facilitate it even if they do not advertise it. A lot will depend on the individual's circumstances, track record, reason for deferring repayments etc.

 

[Nige]

BOI let me take a 3 month break after less than a year's payments.

 

[Bob the slob]

Would they ever let you take 6 months deferred?

 

[Get N bet R]

Thanks all, I'll be contacting them tomorrow -was going to send letter but will ring instead - hopefully I'm not passed around on phone !