Covid-19 FAQs

Mortgage Payment Holiday

Frequently Asked Questions

You may have seen recent announcements regarding mortgage payment holidays for those impacted by coronavirus. We’d be really grateful if you could read the following questions and answers carefully as they provide important information on what you should do and how we can help. Thanks for bearing with us.

  • We’re offering a number of ways to support customers who have been financially affected by the coronavirus. Payment holidays for residential mortgages is one of the options that may be available to support you.

  • A payment holiday allows you to take a break from making your contractual monthly mortgage payment for three months. This is only available for residential mortgage customers for now. We are currently working on ways to support our buy-to-let customers in the short term.

  • At the moment, we’re only offering payment holidays if you have a residential mortgage (for your home), and if your income has been affected by the coronavirus situation. We are currently looking at a way to help our buy-to-let customers in the short term.

    If you’re experiencing longer-term financial difficulties (including if you’re already in arrears), we will need to review your circumstances on a case by case basis to ensure the payment holiday is appropriate for your needs.

  • Please request a repayment holiday through your Private Banker.

Questions about the mortgage payment holiday

  • Arranging a payment holiday won’t impact your arrears status.

  • No, we will not be charging any additional interest on any mortgage payments that are part of the agreed payment holiday.

  • We’ll be in touch before your payment holiday ends to tell you what your new monthly payment amount will be and the date when payments will begin again. The monthly amount will be higher than before the payment holiday started. If you’re worried about paying the new amount, our support team will be able to talk through your options at the end of the payment holiday.

  • We won’t ask you to provide evidence, but we may need to work through your individual circumstances to find the most appropriate way to support you.

  • If we agree to a payment holiday, we’ll do our best to start it before your next mortgage payment. However, if your next payment is due soon, we might have to start the payment holiday from the following period (this may be the next month or quarter depending on your mortgage). We’ll confirm everything when we get back to you. If you pay by Direct Debit, we’ll stop collecting your payments when the payment holiday begins. If you pay by another method, such as Standing Order, you’ll need to stop the payment.

  • No, if we agree to a payment holiday, we’ll start it as soon as we can after you fill in the form. If you want your payment holiday to begin at a later time, please come back and fill in the form at that time.