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It may be that you can arrange with the lender the terms of repayment. Seen some suggestion that it all needs to be done in full, others that it's spread for a period, others suggest it can be deferred to the end of the term which is then extended.
I've been in touch with our lender but not had a response yet. Will update if I hear.
CYOA
coventry_eagle
Mortgage holiday, who's done it and what's the catch?
Here's my understanding:
Payments are deferred, interest continue to accrue, new mortgage statement with increased monthly payments once payment resumed due to capitalised interest charges.
Not that I need it, friends are asking, I've done mortgages when they are in CMBS/RMBS/ABS structures but never drilled down to the individual borrow level.