Mortgage holidays extension: Can I still claim a mortgage holiday?
The advice reads: “Borrowers who’ve already had or are on a payment holiday will be able to ‘top-up’ to a total of six months of payment holidays.
“In general, payment holidays are given in three-month tranches, so for most people, you’ll get an initial three-month payment holiday, and then another three months (whether or not these are taken together).”
Payment holidays last for as long as you agree with your bank, up to six months, and mean you don’t have to make any payments in that time toward settling your debt.
However, you will still accrue and pay interest during the payment holiday.
This means you will end up paying more overall – so if you can keep on paying, it’s best to carry on as normal.
