Concerned about your mortgage repayments?

We are aware that many households are facing disruption as a result of Covid-19. Our aim is to remain flexible in our responses to support you through periods of short term job losses and the financial distress caused at this time.

 

If you're concerned that you won’t be able to make your mortgage repayments, we offer solutions that may be able to help you.

 

  • Mortgage customers who face difficulty can apply for a payment holiday for up to 3 months (further extensions may apply if required).
  • You may also pay just the interest in certain circumstances.

 

Our product solutions have been designed to ensure your credit records will not be negatively impacted during a Covid-19 related payment holiday.

 

If you are a Buy-to-Let mortgage customer and your tenants may not be able to meet rental payments, our solutions may apply to you.

 

If your mortgage is in arrears, please click here for more information.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE

 

Talk to us

Getting in touch with us is the first step. Speak to our Customer Services team today, they are here to help and answer any questions you may have.

 

Call us on 03456005204, request a callback or drop in to any Business Centre. Lines are open Monday-Friday 9.00am-5.00pm (excluding Bank holidays).

 

If your financial distress is not as a result of Covid-19, or if you think your situation will extend beyond a 3 month period, we have long-term repayment solutions that may help you. For more information, see Concerned about your mortgage repayments.

 

Frequently asked questions

  • What is a mortgage payment holiday?

    We know times are tough so we are offering mortgage customers who have been affected by COVID-19 a mortgage 3 month payment holiday or interest only period. This gives you the flexibility to take a break from paying your mortgage repayments for up to 3 months. No additional fees or charges will be incurred as a result of you availing of a mortgage payment holiday or interest only period. Interest on your account will continue to accrue at the agreed rate during the payment holiday period.

  • Who is eligible to apply for a mortgage payment holiday?

    Any of our mortgage customers who have been affected by COVID-19 are eligible to apply and we will do our best to help you.

  • What’s the difference between a payment holiday and paying just the interest?

    We understand many customers are facing challenging times ahead. We offer our mortgage customers a choice.

     

    • A payment holiday means you will not have to make any mortgage repayments for up to 3 months. At the end of the payment holiday period your repayments will be adjusted so that your mortgage will be repaid within its original term. Your ‘holiday’ repayments will be spread over your remaining mortgage, which means your new repayments will be higher than they were before the payment holiday.

     

    • An interest only period means you can make interest only repayments for up to 3 months. You will not repay any of the original mortgage balance during the interest only payment period.

     

    In the case of an interest-only arrangement, the capital balance will not decrease during the arranged period.


    You will receive a letter confirming the details of your temporary payment terms.

  • Will taking a mortgage payment holiday or interest only period affect my credit rating?

    Our mortgage payment holiday or interest only period has been designed to ensure your credit records will not be negatively impacted by a Covid-19 related mortgage amendment.

  • I need to take a short term break from paying my mortgage. How can I apply for a payment holiday or interest only period?

    Speak to our Customer Services team today, they are here to help and answer any questions you may have.


    Call us on 03456005204, or request a callback. Lines are open Monday-Friday 9.00am-5.00pm (excluding UK Bank holidays).

  • I have a shortfall in my income not as a result of Covid-19 or I might have a longer term shortfall in my income as a result of Covid-19, can I apply for a payment holiday or interest only period on my mortgage?

    If the shortfall in your income is not as a result of Covid-19, or if you think your situation will extend beyond a 3 month period, we have long-term repayment solutions that may help you. For more information, see Concerned about your mortgage repayments.

  • If I’m approved for a payment holiday on my mortgage, when will it start?

    Once you’re approved, the payment holiday will begin for the following 3 months.

     

  • My mortgage direct debit is due to leave my account the next few days? Can I still apply for the payment holiday?

    In order for these solutions to take effect before your next scheduled repayment date, please ensure you contact us to apply for these at least 7 business days before that date.

  • What happens when the payment holiday or interest only period on my mortgage ends?

    When the payment holiday or interest only period ends, your monthly repayments over the remaining term of your mortgage will be increased to ensure that your mortgage will be repaid (together with interest due in the case of a payment holiday) within its original term. Interest on your account will continue to accrue at the agreed rate during the payment holiday period.

 

As the Covid-19 situation evolves we will keep these FAQs updated.

 

Important information

  • At the end of the Payment Holiday period your repayments will be adjusted so that your mortgage will be repaid within its original term. That means your ‘Holiday’ repayments will be spread over your remaining mortgage, which means your new repayments will be higher than they were before the Payment Holiday.
  • In the case of an Interest-Only arrangement, the capital balance will not decrease during the arranged period.
  • Once the temporary payment term period expires, the previous terms and conditions of the account will apply.
  • You will receive a letter confirming the details of your temporary payment terms.
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