Coronavirus: Mortgage payment break
Please only call us if it's urgent. Our lines are really busy at the moment, so hold times are much longer than we’d like.
Applying online is the quickest way to apply for a mortgage break.
Last updated 17 July 2020
We understand that Coronavirus (COVID-19) is creating challenging times and you may be worried about money.
What is a mortgage payment break?
If your tenant is struggling to pay their rent or you're struggling to make your monthly mortgage payments because of coronavirus, we can help you by offering a 3-month payment break.
A mortgage payment break is a 3-month break from paying your full mortgage payments.
You’ll be able to apply to either:
- Take a full break from making your monthly mortgage payments; or
- Make reduced payments during your payment break.
If you’ve already taken a mortgage payment holiday, you can still apply for a mortgage payment break.
If you're a landlord, we encourage you to pass on any payment breaks to tenants in need of a rental holiday.
We’ll continue to offer mortgage payment breaks until at least 31 October.
If you would like an estimate of the impact of a mortgage payment break then you may find this independently published mortgage payment break calculator useful.
You’ll be directed to an external website where you’ll get a representative illustration of what your future payments will look like. Your actual payments and what you will repay over the term of the mortgage may differ.
Is a mortgage payment break the right option for me?
If you’re thinking about a mortgage payment break, it’s important to know that:
- Interest will continue to build at your usual interest rate during the payment break. This means your monthly payments at the end of the break will be higher and the total amount of interest you’ll pay over the term of your mortgage will go up, increasing the overall cost.
- Taking a payment break won't affect your credit rating. But lenders may ask about your payment history and take this into account when making future lending decisions.
- There might be other ways to reduce your mortgage payments. Some of these may be more suitable for your situation. You can see the full range of options in our Home Support Hub.
For more advice on taking a mortgage payment break, visit the Money Advice Service. You can also find information that may help you with your decision, and links to free independent debt advice, in the frequently asked questions at the bottom of this page.
If you’re not struggling to pay your mortgage because of coronavirus, and you’re still able to make your mortgage payments, then you should continue to do so.
Applying for a payment break
You must have consent from everyone named on the mortgage.
To help you complete the application, please have information about your income and outgoings to hand.
There are different ways to apply for a payment break, so please read the options carefully:
- If you've already taken a payment holiday and would like to apply for a new payment break, you can apply online.
- If you’re currently up to date with mortgage payments and your mortgage is not held under a limited company, you can apply online.
- If you’re currently behind on your mortgage payments AND/OR your mortgage is held under a limited company, you can apply by calling us on 0800 212 508. Our lines are open 9am to 5pm Monday to Friday, and 9am to 12pm on Saturdays.
If you’re having problems on the system, you may need to update the browser version you’re using or try using a different browser. You can also try refreshing the page by holding down ‘CTRL’ and ‘F5’.
Other questions you might have
When will my payments restart? This will reveal additional content
Do I need to cancel my direct debit? This will reveal additional content
Will you require any proof that my finances have been impacted by coronavirus? This will reveal additional content
If I’m currently making overpayments, what will happen when my payment restarts? This will reveal additional content
Can payment breaks be extended? This will reveal additional content
Can I switch my product when I am on a payment break? This will reveal additional content
Can I still apply if I’m already behind on my mortgage payments? This will reveal additional content
Do the 3 months have to be taken consecutively? This will reveal additional content
I’m unsure if a payment break is right for me. Where can I get more advice? This will reveal additional content
I’ve taken out a payment break but no longer need it. Can I cancel? This will reveal additional content
The Mortgage Works is not responsible for the content or availability of external websites. The Mortgage Works does not make any recommendation or endorse any advertising, products, services or other content on such external websites.