Taking a mortgage holiday - any help?
I am surprised you were told over the phone just to take the break. You could have been anyone, like someone who had rifled through your bin and taken out your details and pretended it was you. So you should have been sent some paperwork and the reverting rate and payment increase should have been made clear to you and you should be happy with that - signed it and sent it back.
If this is not the case you have grounds for complaint so contact the Financial Ombudsman. If not and you just did not read the small print its a case of tough luck im afraid. Its unfair but thats greedy bankers for you
Wed, 25/02/2009 - 08:24
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I think things are really going to change soon, so be patient! We're seeing reports all over that the housing market is going to turn around soon, so I'd venture that any mortgage issues might one day lessen, as more people get back into buying homes. According to www.movoto.com, there are all kinds of options because the markets are at the bottom of the decline. I've been waiting to buy forever, so I may be rewarded with patience!
Sun, 19/02/2012 - 22:16
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To cope with Christmas and birthdays I phoned my mortgage provider and asked for a mortgage holiday on my variable-rate deal for six months. They agreed over the phone and told me it was ok to take the break. They said it wouldnt cost me anything, but I've just received a letter saying that my mortgage is now 100 quid more every month!!! The interest rate has gone down so I don't understand why this has happened. Help!!!