sun_tzu
The Art of Bore
yes and no... most people dont have a mortgage they intend to keep for full term (normally you have a discounted rate you shift before going onto standard variable rate) - you will have to catch up the payments, pay a lump sum or take out a larger mortgage (and this make higher payments on that) to pay it off and move productsNot really, mortgage holidays shift the payment backwards meaning your payments remain the same but they go on for longer. Rent deferrals mean your future payments increase to cover the period you weren't paying rent for.
so as a homeowner you will ultimately have to
pay more ongoing to catch up
save up and pay a lump sum
take out finance for the lump sum and pay it off
OR face the penalty of much higher variable rates
As a renter you will ultimately have to
pay more ongoing to catch up
save up and pay a lump sum
take out finance for the lump sum