...actually, when he said "There aren't really any implications of the payment holiday, other than we wouldn't have to pay any mortgage in that time".. thats not strictly true. I shouldnt have agreed.
I feel a bit mad for you. My ex looked into remortgaging for us earlier this year and laid out in an email all the different options with compared costs over 1, 2 years etc... There ARE implications of payment holidays, as I have taken them (I am surprised you got 8 months worth though!! Its usually 1-2, you must have a good mortagge deal). They basically tack the interest on top of what you already owe...so if your interest is £1000 a month and you have a £100k mortgage, at the end of the period, you would then effectively have a mortgage of £108k. Threfore, your monthly payment would increase slightly to reflect this..so if you never pay back the gap in payments, spread over 25 years, thats quite alot of additional interest.
I'm just surprised he hasnt either laid all this out in an email to you, or even asked you what you think.
Anyway, sorry, I thikn I must've been a financial advisor in a previous life !
More importantly.. you need help in how to handle seeing him.. so.. anyone wanna chip in ??
