Did they give criteria as to who the mortgage holiday would apply to?

[NemophilistRebel]

We are suddenly down to one wage and wondering if they have given specific criteria for the mortgage holiday?

A mortgage holiday does not knacker your credit rating where on earth did you get that from? Deciding to JUST NOT PAY for a few months will knacker your credit rating, but an agreed holiday will not. You pay more interest at the end.

A mortgage holiday does not knacker your credit rating where on earth did you get that from?

Oh dear

www.moneyadviceservice.org.uk/en/articles/mortgage-payment-holidays

Even if your lender agrees to this temporary solution, your credit file will be affected. This in turn could affect your ability to get credit in the future.

www.coventrybuildingsociety.co.uk/consumer/help/important-updates.html
Luckily we are with the Coventry then who state in here that credit rating WON'T BE AFFECTED.

Luckily we are with the Coventry then who state in here that credit rating WON'T BE AFFECTED.

Lucky old you. At least we've cleared that up, it was worrying me.

Now back to people who aren't with the Coventry ....

Anyone is with Lloyd? Thanks

Anyone tried with Barclays? I just spoke to them online and they said they'll be contacting customers by the end of the week? Worried sick tbh

DG, you have not even come on the thread to say that you are worried yourself, only to worry everyone that the government solution will fuck them up.

DG, you have not even come on the thread to say that you are worried yourself

No, you did that. All by yourself.

only to worry everyone that the government solution will fuck them up.

I didn't quite say that. Did I ? I did suggest that people find out for themselves rather than believe random strangers on the internet. Like me. Or indeed you ....

I read in The Guardian yesterday that banks have confirmed that due to the emergency situation having a mortgage holiday won't affect your credit status.

Tsb advised me that it will not impact credit rating. I do, however, have this option in my mortgage, not sure if that impacts it.

For now, I am still in work and can afford to pay it, dp looks like his work is closing down (hopefully temporary). I would rather wait incase my work closes as well.

To be fair I think I took @DGRossetti and the thread a bit off topic talking about the normal mortgage holidays that most if not all lenders offer in any event. Apologies!

Hope you have all read the small print about these offerings

Hope you have all read the small print about these offerings

No.

I sign up to loads of stuff and dont read it. I especially love betting my life savings on 'ah fuck it'

@Forgone90 did you need to provide evidence of change of income or expenses or anything?

Another avenue people may wish to explore is that a lot of care agencies and supermarkets at the moment are advertising for immediate starts (and in the case of care agencies are expediting DBS). I’ve heard anecdotally that supermarkets are being more flexible with shift requests than they usually are to help with childcare etc.

Obviously comes with its own risks, and you’d have to weigh up if you want to risk being more exposed. Also may not work with childcare needs (although you’d be counted as a Key worker, my understanding is you still have to pay for childcare if under school age).

But an option if people need to keep money coming in.

Money saving expert has an excellent guide to all the banks and mortgage suppliers payment holidays for mortgages and loans right now

It’s not just mortgages

Some will look at finances but most wont as it’s meant to be a way of protecting yourself when you know you’ll be short soon rather than waiting until the inevitable of not being able to afford it as it could take longer for them to process those requests

Had an email from Barclays and on their website they're saying they're offering up to 90 months mortgage holiday, won't affect credit rating and won't ask for evidence. Has anyone got through and been successful yet? Phone lines are chocked up

90 days* not months 😂 baby brain is real!

90 months would be fun

The lenders are specifically saying that payment holidays due to CV will not affect people’s credit ratings

I do wish people would stop pontificating about what are ‘normal’ rules and actually investigate the rules that apply to this situation

For anyone with nationwide i can confirm it’s a simple online form to fill out.

Martin Lewis also says that most banks will be offering payment holidays on loans too.
I can confirm natwest definitely will be.

It also looks like the car finance companies will be doing the same. Ford and Nissan already are but VW group are yet to announce whether they will be

We phoned Santander yesterday and they said are you going to be unable to make your next payment. We were not at that point so the consultation didn’t go any further.

I think it’s to anyone who needs it, we had a text from our mortgage provider offering it.

This thread alone demonstrates things the government could have done instead of scratching each others arses whilst singing "We're in the money".

If they don't want to govern - well that's fine. We either get rid of government or find people that do. Can't say I'm too fussed which, right now.

DGR what value are you trying to add to this thread?

You’re facts are incorrect and you are just making people who are already worried, more concerned 🤔

I’m sure there are other places you can just moan about the government