It seems financial experts feel that the proposed 2 year deferment of some of the interest repayments is not the best way forward. Many arguing that at the end of the two year period consumers who qualified will be far worse off.
FTAdviser.com - Concerns mount over 2-year mortgage holiday
The problem is the word "deferment". The fact that your debt is still accruing interest whilst your property is likely to decline in value is a double edged sword.
Once again if the government wanted to help, the word deferment should have been replaced by "reduction."
FTAdviser.com - Concerns mount over 2-year mortgage holiday
The problem is the word "deferment". The fact that your debt is still accruing interest whilst your property is likely to decline in value is a double edged sword.
Once again if the government wanted to help, the word deferment should have been replaced by "reduction."