Mortgage Payment Holidays and Coronavirus

Mortgage Payment holidays and COVID-19

The Financial Conduct Authority have this week issued a set of guidelines around how mortgage lenders should deal with a request for a mortgage payment holiday.

Key Points are:

  • Mortgage lenders to offer an automatic three month payment holiday to borrowers who are impacted directly or indirectly by Covid-10 (Coronavirus)
  • Borrowers need to have an up to date mortgage account with no current arrears to benefit from the three month mortgage payment holiday
  • Borrower will self-certify that they are impacted by Coronavirus – this means that mortgage lender will not run an income and expenditure assessment as normally required if a borrower is in difficulty – In simple terms if the borrower says they have been impacted and require the holiday, that is good enough
  • Borrowers should be aware that interest will accrue as usual in the holiday period, adding to their outstanding balance – borrowers will be asked to make up the deferred payments in the future
  • If borrowers need assistance over and above the three month mortgage payment holiday, they still have the option to have their situation fully assessed by the Lender and wider options discussed – The FCA refer to this as forbearance procedures and unlike the standard offered three month mortgage holiday, agreements will be made specific to the borrower(s) and this may impact their credit file(s)

Mortgage payment holiday process

  • The borrower contacts their lender and informs that they are impacted by Covid-19
  • The lender accepts this and offer a three month payment holiday
  • No evidence of the borrowers position will be requested
  • The lender will tell the borrower that unpaid interest will accrue (adding the the loan)
  • The lender will tell the borrower that there will be contact at the end of the three months to complete an assessment of the customer circumstances
  • After the holiday period an arrangement to pay will be agreed between the lender and the borrower  to recover the missed payments making sure the mortgage remains affordable and sustainable
  • The lender will make the borrower aware that they can complete a full assessment at outset if wider options may be more suitable

Mortgage Payment Holidays and Mortgage Product Transfers

If you are on your lender’s standard variable rate, or if your current mortgage rate ends in the next 4 months, you need to consider the impact of mortgage payment holidays on mortgage rate.

Contacting your Lender

Click your lender for details

Accord Mortgages – Residential

Visit Accord Mortgages Website
Or call Accord Mortgages 0345 1200 872

Accord Mortgages – Buy to Let

Visit Accord Mortgages Website
Or call Accord Mortgages 0345 848 0225

Aldermore Mortgages

Call Aldermore Mortgages on 0333 321 1000 select Option#2 – Option#1 – Option#4
Or Email Aldermore Mortgages:

Barclays Mortgages

Visit Barclays Payment Holiday Online Form
Or call Barclays Mortgages 0800 022 4022

BM Solutions

Visit BM Solutions website
Call BM Soutions on 0345 300 2627selecting Option#5 – Option#2 – Option#1


Visit the Coventry BS website
Call Coventry BS on 0800 121 8899

Earl Shilton BS

Visit the Earl Shilton Online Form
Or call Earl Shilton 01455 844422
Or Email Earl Shilton:

Fleet Mortgages

Visit the Fleet Mortgages website
Or call Fleet Mortgages 01252 916 800

Foundation Home Loans

Visit the Foundation Home Loans website
Or call Foundation Home Loans 03447 708030

Godiva Mortgages

Visit the Godiva Mortgages website
Or call Godiva Mortgages 0800 121 8899


Use the Halifax online request form
Call Halifax on 03457 27 37 47
Check Halifax Service Status

Harpenden BS

Visit the Harpenden BS website
Or call Harpenden BS 01582 463 133


Visit the HSBC website
Or call HSBC 0800 169 6333

Leeds Building Society

Visit the Leeds Building Society website
Or call Leeds Building Society 0113 225 7972

Kensington Mortgages

Visit the Kensington Mortgages website
Or Email Kensington:

Kent Reliance

Visit the Kent Reliance website
Or call Kent Reliance 01634 821273

Metro Bank

Visit the Metro Bank website
Or call Metro Bank 0345 319 1200

Nat West

Visit the Nat West website

Nationwide BS

Nationwide online form
Or call Nationwide Call them on 03457 30 20 11

Newcastle BS

Email Newcastle BS with

  • Your name and mortgage account number
  • That you are directly or indirectly affected by COVID-19
  • The number of months that you require a payment break (maximum 3 months)
Paragon Bank

Visit the Paragon Bank website
Or call Paragon Bank 03458 494 060

Pepper Money

Visit the Pepper Money website
Or call Pepper Money 03333 701 102

Precise Mortgages

Visit the Precise Mortgages website
Or call 0800 781 8558

Email Precise at:


Use the Santander online form
Or call Santander 0800 085 1226

Scottish Widows Bank

Visit the Scottish Widows Bank website
Or call Scottish Widows Bank 0345 845 0829

Skipton Mortgages

Visit the Skipton Mortgages website
Email Skipton at:

The Mortgage Works

Visit the The Mortgage Works website

Virgin Money

Visit the Virgin Money website
Or call Virgin Money 0345 602 8301

Switching to interest only

Switching to interest only is not part of the FCA guidelines but we have already seen the following lenders suggesting they will offer their customers up to 12 months on an interest only basis – other lenders may potentially follow.

  • Aldermore
  • Barclays
  • Bank of Ireland
  • Buckinghamshire BS
  • Chorley BS
  • Family Building Society
  • Hanley Intermediaires
  • Hickley and Rugby BS
  • Hodge
  • Ipswich BS
  • Kent Reliance
  • Leeds BS
  • Market Harborough
  • Marsden Building Society
  • Nationwide BS
  • Newcastle BS
  • Penrith
  • Post Office
  • Principality BS
  • Santander
  • Skipton Mortgages
  • Stafford Railway
  • Teachers BS
  • Tipton BS
  • Virgin Money
  • Vida Home Loans
  • West Brom BS

Do not assume this list is wholly correct or complete – it is simply our understanding from information currently available to Brokers

Important note

The details on this page are provided for information only. A Mortgage Now do not intend this as advice regarding your own situation and can take no responsibility for the consequences of any action you may take with regard to mortgage payment holidays and your mortgage account.

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