Hi adamski.

I'd suggest talking to your trustee. If your capacity to pay your trust deed contributions will be affected by your wife's income reducing this really needs to be looked at.
The other side of this is that a mortgage holiday would reduce your expenditure which may lead to a perception of an enhanced capacity to make payments to your trust deed.
All in all I think it needs talking through and a way forwards to be agreed.

In terms of a mortgage holiday, I suspect it will come down to the terms and conditions applicable to your existing mortgage arrangement. These vary hugely so I think you'll just need to continue discussing it with your mortgage lender and provide them with the information that they request.

Hi adamski

I dont see any problem with the break as it should have no effect on the Trust deed.

I have a number of cases where this has been applied for and granted with no issues.

Mark

I asked about a payment break during my trust deed and my mortgage provider knew I was in one due to my trustee contacting them for a redemption figure for working out equity. They said I would need written permission from my trustee to say they were okay with me having a payment holiday.

Thanks folks,

I was a bit apprehensive about telling them, incase finding out had any negative implications. Also we're on interest only just now, once out of the TD we're going to go back onto repayment, but switched to IO when things were getting tough before the TD, if we fill out an income expenditure review with them, will they then see we don't have any provision for repaying just now?

Cheers

A

Hi again adamski.

I think you're correct. If there is no way for you to pay the repayment element of your mortgage (or to save to repay the mortgage later) this may well become apparent when you complete the income and expenditure forms.

You may be able to put forward a case that the completion of your trust deed will put you in a position to resume a repayment mortgage if they'll help you to get to that point.