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RBS mortgage break, any advice?

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  3. RBS mortgage break, any advice?
  1. 29/10/09 22:26

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    I work for RBS and we only do a payment holiday on the flexi-choice mortgage.  If you don't have this type then call the branch and ask for the number for mtg centre and they might be able to put you on to interest only for a wee while.

    Hope this helps,


  2. 29/10/09 13:30

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    My step dad works for RBS but the IT department so couldn be much help im afraid. He says they should do something like that as do other banks. The best thing would be to go into a branch or call them and tell them your situation, they should be able to help you out one way or another. Sorry couldn be of more help, hope you get it all sorted out.

    Shaz 31+6

  3. 29/10/09 10:43

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    Some lenders do offer what is called a mortgage 'holiday' but it does depend on the terms & conditions of your specific mortgage offer.

    Normally if a mortgage holiday is offered as part of your agreement, you need to be in credit for the amount you want to take a holiday for; eg you would have to be 6 months in credit/ extra payments before they would let you take 6 months payment 'holiday'.

    Best you can do is give them a call, but in the current climate if you have not overpaid I would not be overly hopeful for a payment break.

    Another option could be to convert a capital repayment mortgage to an interest only mortgage for a period of time. You wont make any reductions to your balance however your payments may be less as you are only paying the interest owed. Again this is dependant on the T & C of your particular lender & whether this is something they are willing to offer.

    Perhaps you could consider lengthening the term of the mortgage instead, but anything you do will cost you more in the long run & lenders are being extra careful about these options at the moment due to what has happened in the market.

    hope this helps

    Jen 38 + 2 yellow bump

  4. 28/10/09 22:56

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    Hi sorry I don't post on here much but I was wondering if anyone knew if RBS offered a mortgage break/holiday?

    I've been with them almost 2 years and it would be great if we could get some sort of break whilst I'm on maternity leave as I only get SMP (which is cr*p) and our mortgage payments are £800 per month.

    Any advice would be appreciated :-)

    Kiki 28 weeks

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