To make a reduced payment you'll need to apply for a mortgage payment holiday. You can then send payments based on what you can afford during the holiday period by calling us.
Step 1 - Mortgage payment holiday
When you request a further payment holiday we'll show you how your monthly payments could increase when you apply. The amount depends on your mortgage balance, remaining term and interest rate. For example, a customer with a balance of £150,000 with 15 years left to pay and an interest rate of 2% could pay an extra £20 a month for every 3 months of a payment holiday, if they don't make additional payments.
You'll owe any missed payments and interest built up during the payment holiday, which means you’ll pay back more over the full term of the mortgage.
Your credit file won't be affected by taking a payment holiday, however lenders may take into account other information when making future lending decisions, including, for example, information provided by applicants or bank account information.
Step 2 - Making reduced payments
If you can afford to make some or all of your mortgage payments, it's important that you do so. You can pay up to your new regular monthly amount for each month you’re on the payment holiday. This way you'll pay less overall at the end. These payments won’t be included as part of the maximum amount you can overpay before being charged early repayment charges.
You can make a reduced payment by calling us on 0345 300 6086.
Apply for a further payment holiday
