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Mortgage Break

scaredycat · 2014-12-03 19:19:43

Hi all, I'm coming up to the end of my paid maternity leave and someone mentioned to me at a wedding last week that you can freeze your payments for 3 or 4 months when taking the unpaid leave. Is this true and if so, does anyone know more about going for this? Thanks

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03-12-2014 8:19pm

#1

scaredycat

Registered Users Posts: 82 ✭✭

Join Date: September 2009

Posts: 40

Hi all,

I'm coming up to the end of my paid maternity leave and someone mentioned to me at a wedding last week that you can freeze your payments for 3 or 4 months when taking the unpaid leave. Is this true and if so, does anyone know more about going for this?
Thanks

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#2 03-12-2014 9:28pm
phormium

Registered Users Posts: 3,340 ✭✭✭

Join Date: February 2008

Posts: 3305

You would need to ask your bank and see what their policy on payment breaks is. It is not an automatic thing for unpaid leave of any kind and will depend on the terms of your particular mortgage and/or bank policy. Some mortgages would have had an option to take payments breaks under certain circumstances, but equally a bank could look for you to complete financial statement etc before they would agreed to a payment break. Bear in mind your payments will go up afterwards to make up the shortfall.

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