I’ve spoken to a number of people who’ve taken a mortgage payment holiday since lockdown just because they could. Like deferring their tax payment from July to January, it was a ‘no brainer’. Looks like it will involve both forked tongues and double edged swords, however, as it may leave an unexpected black mark on your credit rating, to ensure that lenders have an ‘accurate picture’ of your financial circumstances. No such thing as a free lunch, I know, but this one should have come with a large, salmonella health warning. And that makes a record four metaphors in one item.
Turmoil in the mortgage market
When I was but a youth, I was often told to enjoy myself before I had the ‘millstone of a mortgage around my neck’. It was then assumed that you’d be dragged down by it for another 25 years, a lifetime when you’re but 25 yourself.
