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buffalo747
Senior Member
Last Activity: 10-05-2020, 15:36 PM
Joined: 20-09-2007
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  • buffalo747
    replied to Three months mortgage holiday
    I originally thought that providing my tenants were still in place and paying their rent as normal (good long term tenants of 5 years plus) then after 3 months I'd be well over £5K better off which would pay for a decent holiday or a treat without any impact apart from an additional £20.00 per. month...
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  • buffalo747
    replied to Three months mortgage holiday
    Thank you jpkeates....Yes, he told me I'd have a greater net income which would be subject to tax. I thought it would be treated as a further advance against the equity in the property and not as income as such. So I'll only get £3330.00 after tax which will cost me just under £20.00 per month extra...
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  • buffalo747
    started a topic Three months mortgage holiday

    Three months mortgage holiday

    I applied to my mortgage lender for a three month break from paying my mortgage i.e. interest only with monthly payments of circa £1850.00....This was carried out online with the bank explaining that should my application be approved then the £5550.00 would be added to the balance of my loan and monthly...
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