Our Home Support Package – here to help
Last updated: 17 June 2020
In May 2020 we told all our customers about our Home Support Package and what we’re doing to help you.
We mentioned that if you have a mortgage with us, whether residential or buy to let, and you’re experiencing financial difficulty, we were working to help you get the ongoing support you need quickly and easily.
If you’re a landlord, we encourage you to pass on any current or future payment support to your tenants.
This support is now ready
We will guide you through your options to help you find an appropriate solution for your needs. That could include a payment break, either partial or full for up to 3 months – on top of any payment holiday support you’ve already received.
If you do decide to go for a payment break, bear in mind it will increase the amount you owe and interest will continue to be added to your mortgage.
We’ll go through with you what the impact of a payment break will be on your mortgage. While your credit rating won’t be impacted, lenders may make enquiries about your payment history and take this into account when making future lending decisions.
What information will I need to hand?
- your mortgage account number
- if you’re not sure about your income and outgoings, you may find payslips, bills and bank statements helpful.
When should I ask for help?
If you’ve already taken out a payment holiday with us, wait until you’re in the last month of your existing holiday before calling us to get the ongoing support you need.
If you haven’t asked us for any support yet but think you need it now, you can call us straightaway. Just bear in mind, it may take us longer than usual to answer your call as we are still experiencing many more calls than normal.
Switch your deal
If you can still make your mortgage payments, but your finances are tight right now, switching your deal - if eligible - might be a good way to reduce your monthly payments, to help take the pressure off a bit.
Apply for a mortgage payment break
If you’re not able to make your mortgage payments, you can apply for a full or partial mortgage payment break for up to three months. This is in addition to any payment support, such as a payment holiday, that you may have already received.
Keep in mind, if you take a payment break, interest will continue to build at your usual interest rate. This means the total amount of interest you pay over the term of your mortgage will increase.