Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie

Can anyone apply for the mortgage break?

Options
  • 06-05-2020 9:30pm
    #1
    SwordofLight
    Registered Users Posts: 341 ✭✭


    Just wondering is the mortgage break basically for anyone who might be worried about their salary taking a hit in the coming months? Or is it only for those who have hit the wall with it.


Comments

  • Options
    #2
    awec
    Administrators Posts: 53,800 Admin ✭✭✭✭✭awec


    If your circumstances haven't changed they are unlikely to give you a break. Banks don't deal in hypotheticals about what might happen you at some undetermined point in future.


  • Options
    #3
    SwordofLight
    Registered Users Posts: 341 ✭✭SwordofLight


    What's the "precautionary" break about then? https://personalbanking.bankofireland.com/borrow/mortgages/mortgage-repayment-covid-19/


  • Options
    #4
    awec
    Administrators Posts: 53,800 Admin ✭✭✭✭✭awec


    Looks like you can so.


  • Options
    #5
    Newbie20
    Registered Users Posts: 691 ✭✭✭Newbie20


    The banks are going to make you pay for the break in the long term with higher repayments so if I were you I’d hold tough until you have to take it. If you feel you have to then obviously that’s just the way it is, but I definitely wouldn’t be taking it on the basis of possibly having wages cut.


  • Options
    #6
    nelly17
    Registered Users Posts: 1,210 ✭✭✭nelly17


    The longer you drag your mortgage out the more interest you will pay.


  • Advertisement
  • Options
    #7
    SwordofLight
    Registered Users Posts: 341 ✭✭SwordofLight


    If you get a break I wonder will it affect your credit history? They lied about that during the recession years ago IIRC asking people to set up arrangements to repay credit cards etc honestly and fairly, then people found years later they were registered with bad credit.


  • Options
    #8
    fatalll
    Registered Users Posts: 437 ✭✭fatalll


    Anyone can apply for a mortgage break. Must have a reason obviously. If you dont have to take it dont, you are only paying more in interest in the long run.


    If you need it and can show Im sure they will look at it.


Advertisement