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payment holiday


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Hi

 

Overpayments can be used to fund Payment Holidays anytime after the first 3 monthly payments of the mortgage are made. You can start two Holiday periods in any mortgage year. They can make a Holiday last as long as the overpayments will allow. This is a condition of the Kensington Flexible Mortgage.

 

Mortgage payment holidays are allowed under the terms of many mortgage contracts, and allow a break in repayments either at your request or under certain conditions. If you need this then call them and ask, but remember interest will still be added daily to the account. I would personally look elsewhere to try and make some savings.

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