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Mortgage Holidays Extended

In the News

HOMEOWNERS who are struggling to pay their mortgage because of the coronavirus crisis can now pause their payments until July 2021.

The extension will be available for any household that hasn't already had a payment break of more than six months.

https://snip.ly/72kzpi#https://www.thesun.co.uk/money/13219509/mortgage-holidays-extended-july-2021/

Ann1984
9 days ago
What do you think of this?
Lynibis
Lynibis9 days ago

Thanks for the info Ann, I expect some mortgagees haven't heard this yet. I have been very lucky despite not earning anything for 6 months prior to August. But I was unable to afford the extra I had been paying off in order to finish the mortgage earlier. I really want rid before I am 73 which is it's current end date.

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Ann1984
Ann1984
Original Poster
9 days ago

Lynibis this topic is credited to Tom as I know some members don’t follow LD Twitter whice is where I seen this. Myself and husband were lucky that we still managed to pay our mortgage while he was furloughed. I know many suffered and could do with this help.

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Lynibis
Lynibis9 days ago

Ann1984 I have no social media at all and I guess I miss lots of comps but it's a sacrifice I am prepared to make lol.

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MrsCraig
MrsCraig9 days ago

We have been lucky and have been able to pay off the extra on our mortgage, we can pay off another 10% if we want as it's gone into a new year for us. Not decided yet if we will or not. Our current mortgage is due to end in 5 years, but we plan on moving so our mortgage will increase but we will still pay off extra and our plan is to be mortgage free before we are 60.

I didn't know that they had extended it further, we luckily don't need it but it will be a lifeline for so many people just now.

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Ann1984
Ann1984
Original Poster
9 days ago

MrsCraig thats our plan to be free from a mortgage early. We didn’t take a holiday but did find a better rate one for 2 years whice dropped our payment by 150 a month. We were going to sell but not much out there for what we wonted.

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MrsCraig
MrsCraig8 days ago

Ann1984 we remortgaged when our original fixed rate went to variable. We got an amazing interest rate and we were able to reduce our mortgage by 10 years. We are planning to move to an entirely different area, to be closer to family.

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Ann1984
Ann1984
Original Poster
8 days ago

MrsCraig thats great good luck now is the time to sell we put ours up didnt think sell for few months but sold after first viewing had to pull out. Get some valuations it’s free

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MrsCraig
MrsCraig8 days ago

Ann1984 we know what the house is worth and we live in the fastest growing council area in Scotland, so houses don't stay on the market for long. My husband needs to get a job in the new area first before we can move, but we are prepared already.

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Ann1984
Ann1984
Original Poster
8 days ago

Can we keep this topic clean please so other members see.

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