Coronavirus: Mortgage Payment Holidays
A mortgage payment holiday is a short-term arrangement where your mortgage lender allows you to take a break from monthly mortgage repayments (or to make reduced payments) for an agreed period. The monthly payments you would have made are instead added on to your mortgage balance.
If you are adversely affected by Coronavirus, the Government has confirmed that you may look to take a mortgage payment holiday on your residential or Buy to Let mortgage for up to three months to help your financial situation. If you are up to date with your mortgage payments, the mortgage payment holiday will not affect your credit rating, and you will not go into arrears on your mortgage.
Find out more about Mortgage Payment Holidays including eligibility and how to apply in our fact sheet.