We understand that many people are concerned about their finances at the moment and in particular, meeting their mortgage payments. If you can possibly do so you should continue to keep up with your payments, but if your ability to pay is being affected by coronavirus we’re here to help.
You can apply online for a mortgage payment holiday for up to three months, even if your mortgage doesn’t have a mortgage payment holiday feature, as long as you apply by 31 October 2020.
Taking an agreed mortgage payment holiday won’t affect your credit rating, but it’s important to remember that:
You’ll find all the information you need about mortgage payment holidays in the mortgage payment holiday FAQs and details of other options available to you, including extending your full or taking a partial mortgage payment holiday, in our payment difficulties section.
Use our calculator before applying for a mortgage payment holiday, to help you understand the impact it could have on your overall mortgage and monthly payments.
You’ll need your balance, rate, term and repayment type - all of which can be found on your mortgage statement we sent you at the start of year. If you’ve made changes to your mortgage since then, the mortgage illustration you received at the time will include the information you need. If you have mixed repayment types, or your mortgage has more than one part, then you’ll need to give us a call.
Once you’ve applied for a new or extended mortgage payment holiday, we’ll then write to you with a personal illustration of how this affects your mortgage. As long as you’re happy with this there’s nothing else you need to do.
This link will direct you to a third party website.
You can apply online to take a full mortgage payment holiday. You must be up-to-date with your payments, not in arrears and able to confirm that your ability to pay your mortgage (or your tenant’s ability to pay their rent if you’re a Buy to Let landlord) has been directly or indirectly affected by coronavirus
If you’re concerned about your finances or are in arrears, there are more options available to you. These include taking a partial payment holiday, extending your current payment holiday or exploring other alternatives.