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Mortgage repayment holidays extended to October

Homeowners who are struggling to keep up with mortgage payments can now take a repayment holiday until the end of October.

You should only do this if you need to because there are still costs.

Although you won’t have to pay the immediate outgoing costs under the government initiative, the amount you owe is still accruing interest rates, which you will have to pay back at a later date.

That said, it will (likely) be much cheaper than taking out a personal loan and should have no impact on your credit score.

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