COVID-19 and your mortgage

What is a mortgage payment holiday?

When you ask to stop paying your monthly mortgage payment for a short period, we call this a ‘payment holiday’.

It can help if you have any changes to your situation, such as unexpected household costs or other changes to your income.
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 up to a maximum of three months.

Find out all you need to know about payment holidays and how to apply.

Can I take a payment holiday?

We know that some of our customers are anxious about being able to keep up with their mortgage payments at the moment. If the coronavirus (COVID-19) outbreak has had an impact on your ability to pay your mortgage, don't worry. We'll do everything we can to help you.

You can ask to take a payment holiday as long as your mortgage payments are up-to-date. If you're already in arrears because of COVID-19 you can still ask to take a payment holiday, as long as you're no more than 6 months behind in your payments.

If you have a joint mortgage, all parties named on the account will need to agree to the payment holiday.

You can find everything you need to know about payment holidays and how to apply.

How do I ask to take a payment holiday?

At the moment, it's quickest to ask for a payment holiday by using our online request form. It only takes a few minutes to complete and we'll let you know our decision by text message in 3 - 5 working days.

Because we're busier than usual, if we agree to your payment holiday it may take up to 10 working days to take effect.

If your next mortgage payment is due in the next 10 working days, your payment holiday may not start until the following month.

We'll send you a text message to confirm the start date of your payment holiday.

Can I take a payment holiday for more than 3 months?

While we're helping our customers to deal with the coronavirus (COVID-19) outbreak, we are following government guidelines and can only offer payment holidays of up to 3 months. However, we realise that these are difficult times so we will try to help as much as we can.

If you are in arrears or struggling to pay your mortgage, you'll find a number of ways we can help on our Facing Financial Difficulty page.

You can find tips and useful advice to help you keep on top of your finances on our Money Worries page.

If COVID-19 has affected your income, you can find out more about the support available to you on the UK Government website.

Will a payment holiday affect my credit score?

No, it won’t, but you should bear in mind that at the end of the payment holiday your monthly payments and the amount you owe will go up. That's because interest is still added to your account while you take a payment holiday, so we'll need to work out a new monthly payment amount for you.

The coronavirus has affected my income and I've missed my mortgage payment. What can I do?

Don't worry. Just let us know as soon as you can and we'll do everything we can to help you, until things get back to normal.

If you're already behind with your mortgage payments, please call us. We are currently dealing with a higher volume of calls than usual as a result of the coronavirus (COVID-19) outbreak. You may have to wait longer than usual to talk to us on the phone.

What are my options if I can't take a payment holiday?

If you’re not eligible for a payment holiday, or don’t feel a payment holiday is right for you, there are other changes that you can consider including:
• Switching your existing deal if you’re eligible
• Changing the term of your mortgage
• If you've made overpayments, you could ask to underpay for a while, rather than take a payment holiday. You'll need to call us before you underpay.

We have a number of other ways of helping too, so don't worry. Please call us and one of our advisers will discuss your options with you. We are currently dealing with a higher volume of calls than usual as a result of the coronavirus (COVID-19) outbreak. You may have to wait longer than usual to talk to us on the phone.

If I've made overpayments, could I pay less in the coming months?

Yes, you can. If you've made any overpayments in the past 12 months, you could ask to underpay for a while, rather than take a payment holiday. You'll need to call us before you underpay.

I need to raise extra money. Can I borrow more from my existing mortgage?

Yes you can, if you're eligible. However, you should consider your options carefully before taking out extra borrowing against your home.

If you're confident that borrowing more against your home is the best move, you can find out if you're eligible in a couple of minutes.

Please note, if there has been a reduction or stop in your income because of coronavirus, we'll need to review your circumstances before we can agree to lend you extra money on your current mortgage.

You can see all the ways we can help you if you've been affected by coronavirus on our help pages.

We've also put together some guides to help you manage your money.

My deal is coming to an end. How do I switch deals while I’m self-isolating?

While our branch and telephone advisers are busy helping customers with their enquiries about coronavirus, it's quickest to switch deals online. This is the best option if you're happy to choose your own deal.

If you'd like some help choosing your next deal, you can ask us to call you back and we'll help you to apply over the phone or by video appointment.

I'm due to have my property valued but I'm in self-isolation. What should I do?

We're not making any home visits at the moment, to help keep you and our colleagues safe. However, some valuations can be done without the need for a home visit.

If we decide that we need to visit your property, we'll let you know and put your application on hold, until we can come and see you.

My mortgage deal is in the process of being changed. Could the coronavirus stop that happening?

If you've already completed an application to switch to a new deal, or have only asked to change your interest rate, you don't need to do anything. We'll continue to process your switch as usual.

If you've asked to change the term or repayment method of your current mortgage, your request will only be affected if there's been a change to your income. If that's the case, please contact us as soon as possible to let us know.

Could the coronavirus outbreak stop my mortgage application being completed?

If your situation hasn’t changed since you applied, there’s nothing to worry about.

If there's been a change to your income, please get in touch if you would like to discuss this with us.

I'm due to move house but the sale has been delayed because of the coronavirus lockdown. Will this affect my mortgage?

As long as there's no change to your income, there’s nothing to worry about. There won't be any changes to your mortgage.

If coronavirus has reduced your income, please get in touch as soon as you can to let us know.

I'm a landlord and my tenant is struggling to pay the rent. What are my options?

We've changed our rules, so our Buy-to-let customers can now ask to take a payment holiday of up to three months. It's quickest to ask for one by using our online request form. It only takes a few minutes to complete and we'll contact you to let you know our decision within 3-5 days.