Mortgage Repayment Holidays
Remember when every mortgage advert mentioned Mortgage Repayment Holidays? While you wont get them as add-ons to your new mortgage many people are checking the small print on their loan and taking the option to have a year or even a few months out of payments at crucial times.
Mortgage lenders probably wish they had not offered these and in the current climate we have to take any opportunities we get!
Apart from Mortgage Repayment Holidays we also recommend shopping around for your mortgage and getting advice from a finance professional to give you the best advice. While it may cost you a bit it could save you thousands over the term of your mortgage.
Many people are taking longer mortgages on a fixed rate, but remember that the current problems will not last for ever and then you might regret signing up for 10 years!
So check the small your small print on your mortgage whether you could be take the pressure off with Mortgage Repayment Holidays!