Mortgage holiday for homeowners and help for renters: as good as it sounds?
This post is referring to the UK Government's announcement here: https://www.dailymail. co.uk/news/article-8122789/ Coronavirus-Rishi-Sunak- announces-three-month- mortgage-payment-holiday.html We are not mortgage advisers and this is not a financial or legal advice. This is a post from me, Natalia Andrews, a property investor as well as an immigration lawyer, and I am doing this in response to our immigration clients, asking for some advice during the uncertain times of COVID-19. For details, or if you are in financial difficulty, you need to seek a professional financial advice. Mortgage Holiday - you will still owe this money! My bank, Halifax, confirmed that they were offering a mortgage holiday for 3 months, same as other banks did. They warned, however, that you would still owe this money. They aren't cancelling these payments but adding them to the loan, so you will be paying it later. Most likely, in small instalments, so you probably won’t fe