If you are experiencing difficulty with mortgage payments as a result of coronavirus, you can apply online for a payment holiday of up to three months. This includes both residential and commercial customers.
It's quick and easy to apply for a mortgage payment holiday. No need to call us or visit a branch, simply complete our online form and we'll process your request as soon as possible. If we need to contact you regarding the form we will do so. We will confirm the payment holiday to you in writing.
Once your payment holiday is agreed we will stop collecting your mortgage payments from your bank account. If you are paying by standing order you will need to tell your bank to stop paying this.
Once the payment holiday is over we will recommence collection of payments from bank accounts. If you are paying by standing order you will need to talk to your bank to start payments again.
During a payment holiday we will not collect your monthly payment. However, interest will continue to accrue on your mortgage balance. Where repayments are deferred for a time, you will need to make up these repayments in the future, which could be over the remaining term.
We will gather a limited amount of essential information from each customer to be able to make a decision on the best way to support customers in as timely and straightforward a way as possible.
Simply complete our online form and we will get back to you as soon as possible. If we need to contact you regarding the form we will do so. We will confirm the payment holiday to you in writing.
If your enquiry is urgent, you can call our customer care team on 01228 403141, but please bear in mind that we are receiving a high number of calls regarding payment holidays, so thank you for your patience.
Yes, all mortgage customers are eligible for a payment holiday, however this is one of a number of options that lenders can offer. If you request a payment holiday, we will consider your individual circumstances and may provide you with details of any other options that may be more suitable for you so that you are able to make an informed decision.
We will write to you in due course to explain the next steps. In the meantime, read our Q&A to find out more about what happens when your payment holiday ends.
We will assess your circumstances, including reviewing your income and expenditure, and if appropriate and we are able to do so, we may be able to agree a further period of forbearance or other measures to support you for a longer period of time.
However, as we have mentioned above, in response to the question “How do ‘payment holidays’ work", interest on your mortgage will continue to accrue during any payment holiday or forbearance measures, therefore any measures allowed will increase the total amount you repay on your mortgage making it more expensive in the long term.
Arrears that are accrued due to Coronavirus payment arrangements will not be reported to the Credit Reference Agencies.
You should contact your landlord or managing agent if you have problems paying your rent. If you are a landlord and your tenants are unable to pay their rent you should contact us as soon as possible to discuss the options that may be open to you.
You should continue to speak to us and we will review existing arrangements if there is a change in circumstances.
If you are in financial difficulty or feel that you would benefit from some help to manage your money during this difficult time, you can find lots of useful information on our financial & mental wellbeing support page, including links to the Money Advice Service and other independent guidance.