OK to skip monthly mortgage repayment?

N

newdawn

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Does anyone know if it would be ok for me to skip paying my mortgage with Bank of Scotland for one month? I've been hit with an unexpected medical issue and the only way I can think to raise the money is to skip a month and catch up by repaying a little more each month for the next year . My question is this: can this be okd over the phone or is this a big deal that will require a lot of paperwork and restructuring etc. I don't want that- only this one break. Anyone have any ideas?
 
I doubt if they will do it over the phone. They used to be able to do it, but it's become so heavily regulated, that I don't think that they can. But try it first.

You will wreck your ICB record though. Is there any way of borrowing it somewhere else - credit union, overdraft, friend or even a credit card?

Brendan
 
Ok, thanks. I'll have to think this one through. Mind you, the ICB is probably wrecked already.
 
Your previous record with BOSI may be relevant. ie have they offered flexible terms before? Are you already in an agreed payment plan? Re your ICB record, are you in arrears with this loan or other loans?


If the answers is no to all these, a one month break should be easy enough to get due to a non recurring expense. As Brendan said, if possible seeking money from friends or family may be a better way to go.
 
Thanks for the advice. I'm in enough trouble with cards so I'm going to try to avoid involving my mortgage lender if at all possible.
 
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