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Mortgage Break

sapper · 2007-07-24 14:03:15

I have an interest-only mortgage on an investment property and I am thinking of selling. Does anyone know if my mortgage provider would allow me to take a break from repaying for a few months while I sell it? Don't want to ask them directly in case I have to change my story ;)

24-07-2007 2:03pm

#1

sapper

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I have an interest-only mortgage on an investment property and I am thinking of selling. Does anyone know if my mortgage provider would allow me to take a break from repaying for a few months while I sell it?

Don't want to ask them directly in case I have to change my story

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Comments

#2 24-07-2007 2:19pm

The_Conductor

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I doubt banks get asked this about investment properties all that often...... They probably would be prepared to take a payment holiday from you- providing the sum accruing over the period of the payment holiday was added onto the capital lumpsum originally borrowed (i.e. you would owe them a much higher amount). It may be simpler to organise bridging finance- as its possible that banks may not be happy to release equity on investment properties in the current climate, irrespective of what amount of equity is in question.

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