Hi

I just wanted to let as many people know as possible cos when I found out I was so happy I nearly had a stroke!!

Anywhooo, my fella and I were getting a bit distressed about the whole maternity pay thing cos lets be honest the money is poo... and I am the main wage earner so it would make a big difference to our income... so...

After making about ten thousand lists of all our outgoings and getting more and more depressed I got our mortgage documents out and read up on the payment holidays cos I thought at least one would help...but what I found was that if you sent off your MATB1 form you can have a 6 month maternity payment break!!!

I dont know what it's like for other companies but our mortgage is with Northern Rock and the only condition is that you have made at least 9 consecutive payments to qualify!!!

I just wanted to let all you know incase you are in the same situation... it might only be 6 months but for us its the difference between surviving and panicing!!!

ANYONE ELSE GOT ANY TIPS???

Cheers
Aimee & 32 wk boy bump
xxx

I have just changed my car insurance from Diamond to Yes. My insurance was due at the end of this month and got a new quote, £67 pounds a month so went on to those compare websites and got the same cover from Yes at a rate for £33 pounds a month for both myself (21 years old, full time carer, who uses the car to get from client to client everyday all day) and my hubby (22 year older learner driver), so basicly saved £33 pounds, so well chuffed

what a saving! this is great advice, THANKYOU.
well did anyone else come up with other money saving tips??
x

Did yous know..., "interest will still accrue and any missed interest payments will be added to your overall mortgage, resulting in increased contractual monthly payments."
So basically if you take a break of 6 months, on an £85'000 mortgage, you could be looking at anything up to £3000 interest owed - added onto your mortgage capital,
resulting in even HIGHER mortgage repayments after the holiday....

check it out.
x

is that true? even if your in a fixed rate? cause we are thinkin of doing this when i get pregnant - im from ttc forum x

hudt to confirm what choliday1 has posted .. it is true. i work for halifax mortgages & as great as these holiday periods are...you will have to re-pay the interest from the missing payments - however long that may be.
most people take a break of 6 months, but it shouldnt make a huge dent on your future repayments.
x

hi aimee, just read your comment, my better half is a mortgage advisor and he tells me that 80% of lenders will let u do this as long as youre not in arrears. also, if you want to consolidate any existing loans is to have a further advance from your mortgage lender or re-mortgage for the full amonut, do not use finance companies to consolidate debt as this will cost you more. any q's, PM me! laura, antony and bump! X

Hi, Dont know if your better half would know but, we are just about to get a bigger mortgage as we are moving. Its with Northern Rock. Woulkd they still let us have a maternity mortgage break? We are not in arrears and always make our payments on time.
I hope they will or we will be in financial ruin!!!!!!

Hi Aimee thanks for that.

We're with the above and funny you should mention cos I thought about this at the start when we were real stressed. I was thinking about lower payments or something,but didn't know about this.

Does it matter about the recent 'going bust'with Northern Rock ?
I take it with your date of posting this is after?

Cheers Racheldee & Bean xxxx

Yeah I asked for the break while all this crazy stuff was going on the TV and that... but I got a reply within 3 days to my letter and it's all sorted out.. the holiday is set and now just have to wait!!!

Aimee xx

i did the same with the debit company that i pay money to they have taken 5 of my larger debits and i pay them one small amount a bit like the adverts yu see on tele, i have bin doing this for about a year, when i spoke to them they said they work it out on my income and cos i'll get less i dont have to give them as much, also i have a loan which allows 2 payment breaks a year (black horse - with lloyds) baby due in november so i'm gonna do nov and dec and then jan and feb!!

its so worth checking, the worse is they'll say no!

amy and bump x 33+3