With some mortgages you can apply for a ‘mortgage payment holiday’ if money is tight. Find out how mortgage payment holidays work, the circumstances in which you might be granted one and the pros and cons of getting one. A mortgage payment holiday is an agreement you might be able to make with.
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A mortgage payment holiday is an agreement you can make with your lender that allows you to temporarily stop or reduce your monthly mortgage repayments. They usually last a few months and after the mortgage holiday ends you have to start making payments again.
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