Mortgage Break covid 19

wazzer1

Hi sorry if theres a thread on this, I couldnt find one
So temporarily laid off, need to take a moratorium. This months is due on friday and will be paid, but not may and possibly June. Does anyone know how to calculate my payments when the break is over. I rang the bank but they said they were too busy to give my figures.

Thanks

I've been in contact with my LL a lot and as far as I know, there is nothing in law about this yet

SuperRabbit

I hope hope hope they do this, my landlord is a good person but can't miss mortgage payments so how are they supposed to be kind to me about rent?

wandererz

It depends on your term, interest and how it will be added & calculated by your bank.
As an example, for a 3 month break, PTSB said approx E20 per month over the remaining term of 175months.
Current mortgage of E1000-E1100 per month (difficult to tell exact amount as mortgage rate just decreased).

Speaking to both AIB & PTSB i was surprised at how amiable they are to pausing mortgages & loans. No hassle, they just approve it over the phone & away you go.

Leg End Reject

I assume the deferred payment accrue interest? It could add up quickly if this is extended beyond 3 months.

Still, a good option to have and I'm happy to hear the banks have simplified the process.