What is a payment holiday?
A mortgage payment holiday is a break from paying your mortgage. 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.
You should only apply if you are experiencing difficulties in making your mortgage payments.
We are no longer offering new payment holidays but if you are currently taking a payment holiday and have not already taken the maximum allowed of 6 months, you can ask to extend it.
Additional payment holidays must start straight after your current payment holiday and finish by 31 July.
For example, if you’ve had a 2 month payment holiday that ends in April, you could ask for another payment holiday for 3 months taking you up to the end of July. You’d then make your next regular payment in August.
If you are currently on a payment holiday or part payment holiday you can only apply for another in the final month of your existing payment break.