Covid-19 Mortgage Holiday
A friend of mine suggested that receiving this can be a bit hit and miss depending on the lender. Some are rescheduling the payments after the three months whilst some are just extending the loan. How to set this up also depends on the lender, it could be a phone call or a form to fill in online.
I have also seen that Buy to Let lenders are also doing the three month’s holiday.
And the really good news is this is getting rolled out to tenants, please see What Mortgage have said:
I don’t think I need the three-month holiday
Even if you don’t think you need to take a three-month holiday, I would ask you to consider it as it will free up some cash for you to help others out. Think of people your money can help; family, friends, other business owners?
As money gets tight please consider not cancelling the window cleaner or gardener or other services you can still use but thought you should stop. Although you might not be able to go to your local coffee shop to sit in their premises, they may be providing a take-out/delivery service. Drop off your surplus food to the needy, think of how you can help others who are in this desperate time of need.