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If you are concerned about making your mortgage payments during this time, please email us at firstname.lastname@example.org inputting “Payment Holiday” in the subject header and quoting your name and eight digit account number in the email, and we will respond to you as soon as possible.
We can offer you a payment holiday of up to 3 months without the need to assess your circumstances. With a payment holiday you will not have to make your normal monthly mortgage payments.
We can also offer you more tailored support according to your individual situation if you wish to go through a full assessment of your circumstances.
With a payment holiday you will not have to make any monthly mortgage payments for a set amount of time, in this case up to three months.
However, it’s important to remember that you still owe that money and the interest on your mortgage still accrues during a payment holiday.
To be eligible for a payment holiday you will need to be up to date on your mortgage payments, and have had your income recently effected by Covid-19.
If you are a Buy-to-Let landlord, it will be available if your tenants have lost income because of the impact of COVID-19.
There are a number of options available and payment holidays aren’t always the most suitable solution for everyone. By speaking to us, we can tailor the best option for you.
If you are concerned about making your mortgage payments during this time you should contact us as soon as possible. You don’t need to provide any documentation; you will just need to self-certify that your income has been either directly or indirectly impacted by COVID-19.
If you are a Buy-to-Let landlord, you will need to self-certify that your tenant’s income has been impacted by COVID-19. Landlords are must pass on this relief to their tenants to ensure that they are supported during this time.
You will still owe the money where a payment holiday has been granted and interest will still accrue, so if you are able to make part or all of your normal mortgage payment to reduce the money you owe or your interest charges then you should consider doing so.
There a number of options available and payment holidays aren’t always the most suitable solution for everyone. By speaking to your mortgage provider, they can tailor the best option for you.
It is only a payment holiday if it has been agreed with us.
You should not cancel your direct debit without speaking to us first. Cancelling your direct debit is not a payment holiday and will be counted as a missed payment. This could show up in your credit file and may impact your ability to remortgage.
At the end of the payment holiday we will ask you to contact us to assess your circumstances and agree a manageable way for you repay the interest charges incurred and make up the deferred payments. We have a range of options available to help you do this.
We are doing our best to support you during these unprecedented times. However, the spread of COVID-19 is also having an impact on their own staff and applications will be dealt with as quickly as possible.
We will make every effort to ensure that if you take a payment holiday it does not negatively impact on your credit score.
If you are concerned about the impact Covid-19 will have on your income, then you should contact us as soon as possible. We will review any changes to your circumstances to ensure that your payments remain sustainable. We will make every effort to support people already in financial difficulty, while ensuring a mortgage remains sustainable.
We have agreed (from 19 March 2020) on residential and buy-to-let we will not take any action which could lead to possession, meaning that no homes will be repossessed at this difficult time.
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.
If you are not currently in arrears but believe you will need additional help at the end of the payment holiday you should tell us when contacting us about a payment holiday. You should ensure that you don’t ask for automatic capitalisation if you do not feel this arrangement to pay is suitable for you. We will then contact you to assess your circumstances and talk through your options. If you are in financial difficulty; we will come to an arrangement to recover you into a sustainable position on the mortgage. Any forbearance arrangements will aim to minimise the risk of possession.
If you are currently in arrears and entering into a payment holiday your lender will already be required to contact you individually to agree a specific arrangement to pay that is affordable and minimise the build-up of arrears to help recover you into a sustainable position on your mortgages. Again, any forbearance arrangements will aim to minimise the risk of possession.
Yes, we will work with you to support you during these difficult times.
No, however if you have any fees or charges within the Terms & Conditions of your mortgage product these would still apply for example an Early Repayment Charge.