Disclaimer: This is a user generated content submitted by a member of the WriteUpCafe Community. The views and writings here reflect that of the author and not of WriteUpCafe. If you have any complaints regarding this post kindly report it to us.
Mortgage payment holidays have been a lifeline for many borrowers during the pandemic. However, the rules are changing from 31 October when the agreement between the City watchdog and lenders to offer a break from payments to anyone who asks comes to an end. Contractors who wish to extend their payment holiday, or who haven’t taken one but think they need to, should request it by the deadline. After this, you may still be able to get a payment deferral but it will go on your credit file, potentially impacting your future ability to get a contractor mortgages.
