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lardy
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It will show up, but not as a missed payment or arrears.
Historically, if you took a payment holiday, it could be a sign that something was amiss with your affordability, and could affect your mortgage acceptance.Make sure you don’t cancel the direct debit though, let the lender postpone the payments, as if they were still expecting April payment to go out with 3 month payment thereafter, then the April payment would have been missed and this will affect your credit.
Acliff-
Historically, if you took a payment holiday, it could be a sign that something was amiss with your affordability, and could affect your mortgage acceptance.
Our two-year fixed runs out at the end of June I think. L&C (our broker for first-time buyer fun back in 2018) has been in touch to get a new deal. We're self-employed and affordability was a big struggle last time as turnover was good but most things were allowable expenses so our profit appeared minimal. Getting corona'd in a big way at the moment work-wise so looking at a holiday. If we take them up on the current offer, are the lender obliged to overlook it?
On the other hand, when they do their affordability checks if they deem we can't afford to continue (even though we could, even, at a pinch, with coronafun) what is the actual outcome? Do they just up the interest rate so high that you have no choice but to default?
CYOA