Coronavirus and payment holidays
As the impact of Coronavirus is felt across the UK, you may be worried about how it could affect you and your home. Your peace of mind is still our top priority, so we've created some extra ways to help, if you need it.
If the Coronavirus has affected your income, you may wish to take a mortgage payment holiday. You can ask to take a break of up to a maximum of three months.
If your mortgage account starts with a 10 or a 70, find out more here.
If you have an account number that starts with anything else call us on 0345 603 1136.
If you're taking a break from your mortgage payments, you might be wondering what happens when your payment holiday ends.
While you're on your payment holiday, you don't need to do anything. We'll write to you before it ends to let you know:
- Your new monthly payment amount. This will be higher than before your payment holiday, to cover the interest charges and payments you missed while you took a break.
- How we can help if your income is still affected by coronavirus. We'll tell you how we can help if you'd like some more support.
If you're in a position to resume your payments after your break, we strongly recommend that you do so to keep your monthly payments and interest charges as low as possible. However, if you find that you need further support when your payment holiday ends, you will be able to take another payment holiday for an extra 3 months or, if you think your income will be affected longer term we can discuss other ways we can help. Remember there is no need to contact us, we'll be in touch before your current payment holiday ends on how we can help.
Coronavirus and option to delay repayment
One option available to residential interest only customers (not applicable to Buy To Let mortgages) whose mortgage term ends between 20th March 2020 and the 31st October 2021, is to delay repaying the full amount until up to 31st Oct 2021.
If your term ends between these dates and you want to discuss this option, call us on 0808 101 0001. Lines are open Monday to Friday 8am - 8pm and Saturday 8am - 1pm.
Please note: If you have missed any payments without our agreement and your account is not up to date, you will not qualify. If you do take the option to delay the repayment of your mortgage, we’ll continue to collect your monthly payments and charge interest until you pay the amount you owe. You can repay at any time before 31st October 2021 and the sooner you do, the less interest you’ll pay.