Can my son take a "payment holiday" on his mortgage?

Posted on 2 October 2007

My son is starting his own business, could he take a "payment holiday", for say 6 months? His mortgage is with Nationwide.

Kathleen

Kathleen,

Nationwide do have that facility certainly for their more recent mortgages yes, but he will need to have overpaid that amount in order to underpay it for a while.

Consult section 12 of the "Key Facts Illustration" that he got as a quote when he took the mortgage (also attached to the mortgage offer), or call Nationwide who can clarify this for you.

Katie.

Category: Overpayments, Payment Holdays, underpayments, Borrowback

 

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