The banks have admitted the payment holidays are not a long-term solution but are designed only for a temporary income shortfall. We asked Nick Morrey, product manager at mortgage broker John Charcol for some answers to your biggest questions. We expect that most will keep the term the same so that when the mortgage payments restart, they will be higher than if they extend the term by the three months. How many payment holidays could I take in my mortgage term? This depends on the lender and is one of the questions we have been asking lots of banks to clarify.

Source: Daily Mirror March 21, 2020 04:52 UTC