Can anyone apply for the mortgage break?

SwordofLight

Just wondering is the mortgage break basically for anyone who might be worried about their salary taking a hit in the coming months? Or is it only for those who have hit the wall with it.

awec

If your circumstances haven't changed they are unlikely to give you a break. Banks don't deal in hypotheticals about what might happen you at some undetermined point in future.

SwordofLight

What's the "precautionary" break about then? https://personalbanking.bankofireland.com/borrow/mortgages/mortgage-repayment-covid-19/

awec

Looks like you can so.

Newbie20

The banks are going to make you pay for the break in the long term with higher repayments so if I were you I’d hold tough until you have to take it. If you feel you have to then obviously that’s just the way it is, but I definitely wouldn’t be taking it on the basis of possibly having wages cut.

nelly17

The longer you drag your mortgage out the more interest you will pay.

SwordofLight

If you get a break I wonder will it affect your credit history? They lied about that during the recession years ago IIRC asking people to set up arrangements to repay credit cards etc honestly and fairly, then people found years later they were registered with bad credit.

fatalll

Anyone can apply for a mortgage break. Must have a reason obviously. If you dont have to take it dont, you are only paying more in interest in the long run.


If you need it and can show Im sure they will look at it.