Coronavirus: Mortgage payment holiday

Due to high volumes of applications right now, it might take us slightly longer to get back to you. Please bear with us and avoid calling in for an update.
We understand that Coronavirus (COVID-19) is creating challenging times and you may be worried about money.

What is a mortgage payment holiday?

If you think you'll struggle to make your monthly mortgage payments because of Coronavirus, we can help you by offering a 3-month payment holiday.

A mortgage payment holiday is a break from paying your mortgage. It won’t affect your credit rating, so there’s one less thing to worry about.

Can I apply for a mortgage payment holiday?

You can apply for a mortgage payment holiday if:

  • Your finances have been affected by Coronavirus.
  • You have consent from everyone named on the mortgage.

Is a mortgage payment holiday the right option for me?

It’s important to remember that a mortgage holiday is a temporary break from your mortgage payments, to help you through these uncertain times.

There are a few things to consider before applying for a mortgage payment holiday, to make sure it’s right for your situation:

  • When your payments start again after the payment holiday, they’ll be recalculated and may increase, as a result of the previous payments due being added to your mortgage balance.
  • The total amount of interest you pay over the term of the mortgage will increase.

How long will this mortgage payment holiday be available for?

You will be able to apply for a mortgage payment holiday until at least 30 April 2020.

If you’re not yet sure how much the current situation will impact your finances, or if you’ll be able to keep paying your mortgage, there’s still time to consider the best option for you.

Apply for a payment holiday

Where we can, we’ll start your payment holiday from your next payment. However, if your next payment is due in the next few days, your payment holiday may start the following month. We’ll confirm the details when we write to you confirming your payment holiday. This will be within 10 working days of you submitting your application.

There are different ways to apply for a payment holiday, depending on if you’re currently up to date with your mortgage payments or not, or if your mortgage is held under a limited company:

  • If you’re currently up to date with mortgage payments and your mortgage is not held under a limited company, you can apply for a payment holiday on our online application form.
  • If you’re currently behind on your mortgage payments AND/OR your mortgage is held under a limited company, you can see how to apply for a payment holiday on our payment holiday webpage.

Due to high volumes of applications right now, it might take us slightly longer to get back to you. Please bear with us and avoid calling in for an update. Rest assured we have your application and you’ll hear from us soon.