mortgages with banks building societies during the crisis

evosteo

So my partner just got notice her shop is closed for up to 3 months from today.

we both contribute 50% each to a large mortgage and other bills.

I though the banks and building societies were taking extraordinary measures to suspend payments from 3 to 6 months and this would be added to the end of your term?

I checked the EBS website there to find all that was available was a mortgage holiday for 3 months and after that increased monthly payment :mad:

It is important to note that when the moratorium or interest only period ends, your monthly repayments over the remaining term of your loan will be increased to ensure that your mortgage will be repaid (together with interest due) within its original term.

People who have been affected may now have unsustainable mortgage payments going forward if they are forced to take this "mortgage holiday"

This isn't what I was lead to believe on the news last week.

Are the government no going to take extraordinary measures like Italy and France and suspend all payments until this crisis is over?

From what I can see now nothing announced last week from the 5 main banks is anything new,

You could always take a mortgage holiday at any time

natelik

The flare-up isn't at a similar stage in each state. On the off chance that general wellbeing authorities can rapidly expand testing, it may be conceivable to have a substantially more complete view before network transmission intensifies.