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Nationwide Mortgage Holiday

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  • Nationwide Mortgage Holiday

    I have recently enquired about taking advantage of the payment holiday option on my Nationwide mortgage. I was informed that a valid reason was required before a payment holiday can be approved. I then asked where I can find a list of valid reasons, but was told that no list existed and that I must give them a reason and they would then let me know whether or not it is valid.

    Does anybody have experience of obtaining a payment holiday from Nationwide, or have any expertise on this, and therefore know which reasons would be valid?

    Thanks

    Scott

  • #2
    Re: Nationwide Mortgage Holiday

    There are all sorts of valid reasons that the bank would accept. Things from a relationship breakup to an emergency at home such as the car breaking down & going to cost x amount to fix or maybe some work needs to be done on the house & you could do with the extra money for this.

    A genuine reason a client of mine gave many years ago was that he had been made redundant & could do with a 3 month break on the mortgage.
    Anthony
    Compare the Mortgage Market
    http://www.comparethemortgagemarket.com

    Comment


    • #3
      Re: Nationwide Mortgage Holiday

      They take any reason, so long as it is valid - the monthly payments are added onto the mortgage amount so you will pay interest on the holiday payments for the life of the loan,
      Large mortgages and High Net Worth Mortgages from enness private clients

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      • #4
        Re: Nationwide Mortgage Holiday

        As long as you avoid telling them you need to pay off a gambling debt!
        Anthony
        Compare the Mortgage Market
        http://www.comparethemortgagemarket.com

        Comment


        • #5
          Re: Nationwide Mortgage Holiday

          Or to fund a drug habit!
          Large mortgages and High Net Worth Mortgages from enness private clients

          Comment

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