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Original poster

Has any taken 3-6 month moratorium on their mortgage at the beginning?

65 replies

Mortgageq1 · 10/07/2025 15:40

In the process of buying a house and as a part of the mortgage offer, we have been asked whether we’d like to take a moratorium of up to 6 months and our mortgage payments. I’m thinking I’d like to take 3 to 4 months. Just to ease us into being in the house so that we can afford to buy some furniture and bits and pieces, etc. It looks like it will only add on an extra 10 to 20quid to the monthly payment after that. Anyone else on this? posting here for traffic.

OP posts:
Original poster
Mortgageq1 · 10/07/2025 16:02

Digdongdoo · 10/07/2025 15:56

Like what though? Replacing a rotten front door, or fitted wardrobes? One is far more essential than the other. If that latter, or furniture and bits and bobs like your OP said I wouldn't even consider it.
You really want to be bringing your mortgage down, not up before you've even moved it.

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@Digdongdoo with all respect it doesn’t matter what EXACTLY I need the money for I wasn’t asking about that. The topic was the moratorium. Thank you though.

OP posts:
Original poster
Mortgageq1 · 10/07/2025 15:58

Poopeepoopee · 10/07/2025 15:50

This isn't really a thing in the UK.

Do you mind if I ask what bank has offered you this?

But no, I wouldn't. I'd just crack on and pay the mortgage normally.

Ah ok, that’s interesting. Yes I’m not in uk.
thank you

OP posts:
Digdongdoo · 10/07/2025 15:56

Mortgageq1 · 10/07/2025 15:54

Essential stuff to be honest. Carpentry work and a few other things.

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Like what though? Replacing a rotten front door, or fitted wardrobes? One is far more essential than the other. If that latter, or furniture and bits and bobs like your OP said I wouldn't even consider it.
You really want to be bringing your mortgage down, not up before you've even moved it.

Original poster
Mortgageq1 · 10/07/2025 15:54

Digdongdoo · 10/07/2025 15:49

What exactly is it you need to spend the money on? Essential renovations? Or furniture and bits and bobs?

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Essential stuff to be honest. Carpentry work and a few other things.

OP posts:
KimHwn · 10/07/2025 15:51

Mumofteenandtween · 10/07/2025 15:46

That is an extra £10 - £20 a month every month for 25 years!!!!!

This, it's a lot OP.

Poopeepoopee · 10/07/2025 15:50

This isn't really a thing in the UK.

Do you mind if I ask what bank has offered you this?

But no, I wouldn't. I'd just crack on and pay the mortgage normally.

Original poster
Mortgageq1 · 10/07/2025 15:49

KnickerlessFlannel · 10/07/2025 15:48

Absolutely not, I would be doing everything in my power to reduce the term and payments, not extend them.

Doesn’t extend the term.

OP posts:
Digdongdoo · 10/07/2025 15:49

Mortgageq1 · 10/07/2025 15:46

It just frees up money for the first few months on moving into a new house as far as I can see. I wouldn’t ordinarily spend the money, so I would be living beyond means.

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What exactly is it you need to spend the money on? Essential renovations? Or furniture and bits and bobs?

Original poster
Mortgageq1 · 10/07/2025 15:49

Digdongdoo · 10/07/2025 15:45

I wouldn't. Buy the essentials second hand and the rest as you go. Extra debt to pay for stuff isn't a great habit to start off on.

It’s not extra debt as such …it’s just spread across the term. So say initial payments were 1500 they are now 1520

OP posts:
KnickerlessFlannel · 10/07/2025 15:48

Absolutely not, I would be doing everything in my power to reduce the term and payments, not extend them.

Mumofteenandtween · 10/07/2025 15:46

That is an extra £10 - £20 a month every month for 25 years!!!!!

Original poster
Mortgageq1 · 10/07/2025 15:46

Hodgemollar · 10/07/2025 15:43

This is quite a weird thing for them to offer in 2025 without you asking imo. What lender is this?

Honestly I wouldn’t be taking a mortgage holiday for the first 6 months of your mortgage. It’s immediately falling into living beyond your means imo.

It just frees up money for the first few months on moving into a new house as far as I can see. I wouldn’t ordinarily spend the money, so I would be living beyond means.

OP posts:
Digdongdoo · 10/07/2025 15:45

I wouldn't. Buy the essentials second hand and the rest as you go. Extra debt to pay for stuff isn't a great habit to start off on.

Original poster
Mortgageq1 · 10/07/2025 15:45

Hodgemollar · 10/07/2025 15:43

This is quite a weird thing for them to offer in 2025 without you asking imo. What lender is this?

Honestly I wouldn’t be taking a mortgage holiday for the first 6 months of your mortgage. It’s immediately falling into living beyond your means imo.

It’s called a delayed start…yes it was just offered. A friend of ours did it too so just wanted other opinions.

OP posts:
Hodgemollar · 10/07/2025 15:43

This is quite a weird thing for them to offer in 2025 without you asking imo. What lender is this?

Honestly I wouldn’t be taking a mortgage holiday for the first 6 months of your mortgage. It’s immediately falling into living beyond your means imo.