Conversations with a Pug – What is a repayment holiday?
What is a repayment holiday?
Exactly that… a period of time where you don’t make any repayments on your home loan.
Usually it’s a time when your financial situation changes… for example maternity leave, and therefore there is a period of reduced income.
Of course there can be other reasons too.. such as redundancies, illness etc…
In any of those cases… rather than falling behind on your repayments, it’s critical that you speak with your bank or broker to get some early advice to make sure you work with your lender to find an appropriate solution.
If you need any information around taking a break from your home loan repayments, reach out and let’s talk.
My Very Best To You Always,