Mortgage Break for maternity

[CHOCOLATEPEANUT]

I am in a fixed rate 2 year mortgage deal with Yorkshire Building Society and I am currently mid way through Maternity leave and feeling the pinch....

Is anyone with the Yorkshire and had a payment holiday/break?

have you over paid on your mortgage since setting this up?

Is there a clause in your mortgage ?

Otherwise they will say no, I am afraid.

When my DH was made redundant, we asked Leeds & Holbeck for one. To be honest they were most unsympathetic.

we are with the Yorkshire and have had a few payment holidays here and there (just for a month at a time)

I'm a mortgage advisor for a bank, who will remain unnamed at the moment, suffice to sy I may be a civil servant now(!) and they give up to 6mths off for a maternity break, but normally if you make 9 payments in a row, they give you one off automatically. You should check your mortgage off to see if it mentions anything about breaks or holidays. Failing that, just give them a call and explain the situation. IME banks are normally more helpful if you contact them before you get into any payment trouble.
Hope this helps! xx

Oh, I forgot to say, I'm taking the 6mth break and I've got a 7yr fixed rate mortgage, so having a fixed rate shouldn't matter. xx

Hazie,

We did the day it happened, so that must make L&H real meanies....

I think I read somewhere that even if the bank etc authorise a 'holiday' they can still count it against you as a missed payment if you need a new mortgage/want to move. Does anyone know if this is the case as it would certainly make me think twice!

Oh, I also forgot to say, you sometimes don't need to overpay to get the breaks. Okay, I'll go now! x

No we have not overpaid and when I check website it says that you do have to overpay first?!

Seems starnge as who is in a position to overpay these days.Managing to pay at the moment but pay dropping at an alarmong rate every month until I go back in June and getting a bit nervous about it all..

I would give them a call in the morning then CP and discuss it with them. There's a couple of things that you could do to reduce the payments if you're really struggling, like increase the term for a while or change to Interest Only, but I would only use these as very short term measures. I know what you mean about overpaying. We get loads of customers saying that they'll do it but hardly anyone does.
Sorry to hear about that Bree. I used to work for them but not as a mortgage advisor and they did seem a little inflexible at times, but that was while ago though. Banks are a little more flexible now, but I guess there are still a few exceptions.
xx

We have had a 6 month instalment break (also on a fixed rate). We had to pay £50 to do it.

who was that with evenhope?

C & G

Rang them today and they said they could reduce to interest only (saving is £200 a month) BUT they would add £20 to payments for the rest of the term!

Needless to say I declined.Got to get some gear on ebay ....