Help with your mortgage payments
Before we can help you, we need to ask a quick question
How are you finding payments at the moment?
How to start paying again
When your payment holiday ends, the amount you pay each month will go up. This new monthly amount is to cover the interest charges and payments you missed while you took a break.
Keep your monthly payment amount
When your payment holiday ends, you can simply choose to continue to pay your new monthly amount and spread the cost across the rest of your mortgage. If you do this, the total amount you pay back on your mortgage will be greater as interest will be charged on a higher mortgage balance.
If you pay by Direct Debit - you don't need to do anything. We'll change the amount you pay each month and collect it as usual when it's due.
If you cancelled your Direct Debit - you'll need to set up another one to cover your new monthly amount, before your next payment is due
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 that your account doesn't fall into arrears
If you have an interest-only mortgage - you should make sure that you have enough money put aside to repay the higher balance when your term ends
Overpay a lump sum
You can make a one-off overpayment on our app or in Online Banking.
If you don’t bank with us, you should use your 14-digit mortgage account number as the reference when you make the overpayment.
Set up a regular overpayment
Pay a little more than usual each month. If you already pay your mortgage by Direct Debit and you’re registered for Online Banking, it’s quick and easy to set it up online.
If you don’t use Online Banking, we have other ways to help you set it up.
- If you want to reduce the amount you pay each month, you’ll need to ask us to work out your new monthly payment amount after you overpay. Please don’t ask us for a new monthly amount before you’ve made all of your overpayments or if you’ve not made any overpayments.
- If you overpay but don’t ask us for a new monthly payment amount, we’ll automatically work out a new one for you if you switch to a new mortgage deal at a later date. If you’re on a variable rate or tracker product, we’ll let you know your new monthly payment amount if there’s a change to your interest rate.
- If you’re still on your payment holiday and overpay, we’ll always work out your new monthly payment amount when your payment holiday ends. We can’t do it before then, so please don’t complete the request form
- If you were behind with your mortgage payments before you took a payment holiday, we’ll use any overpayments you make to reduce your arrears balance first. If you were behind with your payments, it’s important that you speak to us before you overpay
Extend your mortgage term to keep your monthly payment down
When you’re ready to restart your mortgage payments, you’ll notice an increase to your monthly payment amount. You could extend your mortgage term to keep your monthly payments close to what they were before your payment holiday.
How to find more help and support
Apply for a plan or a hold that works for you
We can now give you even more help online to meet your needs – whether you’re behind with payments and want a plan or simply need a hold and some time to get advice.
We’ll ask you a few quick questions first and then we’ll see if we can:
- come up with a plan to help you pay off the amount you're behind by
- give you a hold and the time and space to get some free independent help and advice
- set up a temporary plan to lower or stop your payments for a while - this isn't a payment holiday
Think about the impact
All our options are different, as they're designed around you. But they may have an impact on you too.
Before you apply, do make sure that you:
- understand what your account will look like when a plan or hold ends - as not all of them will bring your account up to date
- know how it might affect interest and your credit score
So please read it carefully.
Other options you may want to think about
If you’re in the last 3 months of your current mortgage, or you’re on a standard variable rate, you might want to think about switching to a new deal.
- You could reduce your monthly payment amount
- Save more in the long term if you switch to a lower interest rate
- No legal fees or valuation charges
Other options to reduce your payments
Talk through your options, including extending your mortgage term or moving to an interest-only mortgage. We’ll explain all the choices available to you.
- Make your payments more affordable
- Find the right solution for your needs with some expert help from us
- Talk to us from home and no need to visit a branch
Or you could fill out a budget and call us
So we can get a better feel for your finances, you could fill out an online budget with us.
- When you've done this, we'll give you a unique reference number and ask you to call us
- We'll use this number to talk through your options with you when you call
If you want help with this budget or would prefer to talk to us, please call the number on the next page.