Do you think mortgage holidays will come back?

[PureBlackVoid]

I don’t know if some banks still offer them, but mine doesn’t. I worked through Covid so luckily didn’t have to use them at the time but I could really do with it now tbh!

I may have missed it, but I’m surprised there hasn’t been any suggestions for the banks to offer these again. It would be a massive help for everyone, but especially those who don’t earn a lot but don’t qualify for the additional help payments.

I know the repayments increase once reinstated but according to the calculators, mine would only increase by around £10. For me that would be worth not having to pay the mortgage for 3 months in winter.

Do you think it’s likely they’ll come back? Would it be a good idea?

I think it would end up costing you more in the long run; when it comes to remortgaging you’d have a black mark against you so you wouldn’t be able to get the best rates - I think a lot of people didn’t realise how badly it would reflect upon their credit history.

We had to take a mortgage break due to covid , So definitely still a thing.
only for 3 months but noticed it on our payments , ours is in its last few years though so I guess when it’s spread out further over long term it doesn’t seem so bad .
really didn’t want to do it though

You do pay in the long term but that’s true of any borrowing. I took 6 months and payments went up by 48 quid a month. I’m on a cheap five year fixed rate so haven’t come to remortgage yet. I’d be interested in hearing who did take a payment holiday and subsequently remortgaged.

my credit score is excellent though.