COVID-19 and your mortgage

We know this is a difficult time and we are here to help.

You’ll find help and support on this page to help you manage your mortgage during the coronavirus outbreak.

Help with your mortgage

  • 1.
    What is a mortgage payment holiday?

    When you ask to stop paying all of 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.

    However, it’s important to remember that the amount you pay each month will go up after a payment holiday.  This is to cover the payments and interest charges you’ll miss when you take a break, so you should only apply for one if you are finding it hard to keep up with your payments.

    We are no longer offering new payment holidays for Covid-19 related reasons. But if you’re currently taking a payment holiday you may be able to extend it.

    If the coronavirus has affected your income and you need some breathing space, we have ways to support you. Find out more about how we can support you.

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  • 2.
    What is a part payment holiday?

    This is where you pay less than your usual amount for up to 3 months.

    Rather than taking a full payment holiday, where you make no payments at all, you agree to make a fixed, reduced payment. With this option, your monthly payment and the amount you pay back overall will be lower than if you take a full payment holiday. 

    We are no longer offering part payment holidays. If you want to extend a current part payment holiday you might be able to take a full payment holiday and make partial payments during the payment holiday period. Find out more about applying for a payment holiday.

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  • 3.
    Can I take a payment holiday or part payment holiday?

    We are no longer offering new payment or part payment holidays for Covid-19 related reasons. But if you’re currently taking a payment holiday you may be able to extend it.

    Extensions to payment holidays must follow straight on from the current one and must end by 31st July 2021. In total you can take a maximum of 6 months payment holidays.

    If you are impacted by coronavirus and are finding it difficult to make your mortgage payments, there are ways that we can support you. find out more.

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

     

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  • 4.
    How do I ask to extend a payment holiday?

    If the coronavirus is still affecting your income you may be able to extend your current payment holiday.

    If you want to make a reduced monthly payment, you can apply for a full payment holiday and make payments you can afford during the payment holiday period, find out more.

    Find out more about the support we can offer and how to apply with our Covid-19 support tool.

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  • 5.
    How do I cancel a payment holiday?

    If you currently have a payment holiday in place and want to cancel it, you should complete our payment holiday cancellation form.

    Please note that if your next mortgage payment would normally be due in the next 10 working days, then the payment holiday may not be cancelled until the following month. We will confirm in writing the date from which your payment holiday has been cancelled.  

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  • 6.
    How do I cancel a part payment holiday?

    If you find that you no longer need a part payment holiday, our online request form is the quickest way to cancel it. It’s easy to complete and should only take a couple of minutes.

    Please note that if your mortgage payment is due in the next 10 working days, then the part payment holiday may not be cancelled until the following month. We will confirm in writing the date from which your part payment holiday has been cancelled.

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  • 7.
    Do I need to cancel my Direct Debit if I take a payment holiday?

    No, you don’t. When you agree that you can take a payment holiday we’ll stop collecting your payments. It’s important that you don't cancel your Direct Debit so we can start collecting payments again when your payment holiday ends. If you cancel your Direct Debit we won’t be able to take payment and your account may fall into arrears.

    If you have cancelled your Direct Debit, please use our online form to ask us to set it back up for you, using the same bank details as before.

    Restart my Direct Debit

    If you want to change the date you pay, or the account you pay from, you'll need to call us.

    If you pay by standing order, you’ll need to restart your monthly payments before the next one is due. It’s important to remember to do this to make sure your account doesn’t fall into arrears.

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  • 8.
    What happens when my payment holiday or part payment holiday ends?

    When your payment holiday ends, the amount you pay each month will go up. If you’ve taken a part payment holiday it will still increase but not by as much. This increase is to cover the interest charges and payments you miss while you take a break or make reduced payments.

    We will contact you before the end of your payment holiday or part payment holiday to explain all the ways we can help if your income is still affected by coronavirus. In the meantime, our COVID –19 Support Tool will show you all the ways we can help.

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  • 9.
    Will a payment holiday affect my credit score?

    Payment holidays will not have a negative impact on your credit file. However, you should remember that lenders may use information obtained from other sources, such as bank account information, in their lending decisions.

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  • 10.
    What are my options if I can't take a payment holiday?

    If you don’t qualify for a payment holiday, or feel that a payment holiday isn’t right for you, there are other options 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. Find out more about our support options.

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  • 11.
    Can I cancel a term extension?

    If you’ve asked us to extend the term of your mortgage but you have changed your mind, our online cancellation form is the quickest way to cancel it. It’s easy to complete and should only take a couple of minutes.

    If we’ve confirmed your term extension but it hasn’t started yet, you can still cancel it using our online form.

    We’ll cancel your term extension from the next month, but we might not be able to cancel it before your next payment is due. We will write to you to confirm your new monthly payment amount and the date it will be effective from. This could be different to the amount we originally gave you, as we’ve worked it out using the latest balance.

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  • 12.
    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.

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  • 13.
    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.

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  • 14.
    I'm approaching or already past the end of my interest-only mortgage term. What should I do if I don't have enough to repay my mortgage balance?

    If you think you may struggle to repay your full interest-only balance, let us know as soon as possible. You could be a few years from the end of your mortgage term, maybe just a few months, or even already past the end of your term. However long you have left, the sooner you get in touch, the more solutions you may have.

    If you are using the sale of a property to repay your mortgage, you should give yourself enough time to market and sell the property before the term ends. You may need at least 12 months to market your property to allow time for the sale to go through. If you have any concerns about selling your property, let us know as soon as possible.

    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 the number below

    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.

    Every day we help customers make plans. We can help you decide what works best for you. Check what information is available to you online or you can call us on 0345 609 8953. Our lines are open Monday to Friday 8am to 8pm and Saturday 8am to 1pm.

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  • 15.
    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.

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  • 16.
    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.

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