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missanon
PostPosted: Thu May 24, 2012 10:44 am 
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Thinking of freezing my mortgage for about 3 months while I'm on maternity leave. What happens - do the monthly repayments increase after or is the length extended?

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Ds1 born 2009
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Glowe
PostPosted: Thu May 24, 2012 11:50 am 
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The length is generally extended, and I think the interest repayments are recalculated. I would ask them to provide the comparative figures of the new/additional cost in order to decide. AFAIA it is a very expensive form of finance.
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tinygirl
PostPosted: Thu May 24, 2012 3:10 pm 
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When you take a moratorium you are not freezing the mortgage, the bank will recalculate the mortgage based on the remaining term so your payments will be a little bit higher when your break is finished.

hth
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peacelily
PostPosted: Thu May 24, 2012 3:14 pm 
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I dunno? The freezer explodes?

:lol:

Sorry - I think the heat is getting to me today. :blush:

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