Due to the impact of coronavirus, many lenders are offering a 3-month mortgage holiday. We have compiled a list of mortgage lenders & banks that are accepting online/email requests to arrange a mortgage payment holiday.
A mortgage holiday is a temporary break from your regular monthly mortgage payments, but it is important to note that your mortgage repayments will increase afterwards. Please follow the advice and guidance of your existing lender before you commit to a mortgage payment holiday.
Which mortgage lenders are offering a 3-month mortgage holiday?
Most of the major UK banks and mortgage lenders are assisting the UK government with a 3-month mortgage holiday to help ease the financial burden during these unprecedented times as we try to manage the spread of coronavirus.
How do I arrange a 3-month mortgage holiday?
You can request a 3-month mortgage holiday by calling your bank, or by visiting the dedicated coronavirus pages on their websites. Some lenders with apps now have built-in functions that allow you to request a mortgage holiday via their app.
At the time of writing, most banks and mortgage lenders are struggling with the telephone demand, it may be easier to arrange your mortgage holiday online and via email if you don’t require advice. Avoid visiting your local branch if you can. We have compiled a list of the lenders who are taking online/email instructions for a 3-month mortgage holiday.
Lender links for arranging a 3-month mortgage holiday:
Birmingham Midshires (BM Solutions):
Newcastle Building Society:
Principality Building Society:
Royal Bank of Scotland:
Skipton Building Society:
The Mortgage Works (TMW):
Yorkshire Building Society:
You can also check the latest remortgage rates here to see how much it would cost you to borrow more or to switch your mortgage rate:
Author: Ben, Glow Mortgage Advisor (CeMAP, BSc Hons)
Date Published: 25th March 2020