loan

[kitchenmares]

We have an unsecured loan from Abbey. We have had for 12 months which would have been payed off, but due to the housing market we still have it! We are finding it hard to meet the monthly repayments. Can anyone tells us how to reduce the monthly repayments say for, 6 months? By the way, we haven`t got a mortgage because we have a mobile home and that is why it`s an unsecured loan. Thankyou in advance!

[sammy snake]

I'm not sure what the housing market has got to do with repaying a loan, were you trying to repay the loan by selling your home?

Will the lenders let you have a payment holiday? I can have upto 3 months on my unsecured loan or 6 months on my mortgage.

[kitchenmares]

thankyou for your answer ,yes when we sell our home we can pay off loan in full

[ethandron]

Go and speak to the Abbey. They may be able to let you reduce your payments or give you a payment holiday. Bear in mind though this will end up costing you more overall. banks are not a charity.

[kitchenmares]

Thankyou ethandron, we`re going to find out about the payment holiday today and how much that will cost. Thankyou again!