Supporting customers affected by coronavirus
Last updated 1 April 2021
We’re committed to supporting our mortgage customers who’ve been financially affected by coronavirus.
Options for reducing your monthly payments
Switch your deal
If you can still make your mortgage payments, switching your deal – if possible – might be a good way to reduce your monthly payments, to help take the pressure off if finances are tight right now.
Mortgage payment breaks
As of 1 April 2021, we are no longer accepting new applications for mortgage payment breaks.
However, if you’re already on a payment break and you need more support, you may be able to apply for an extension.
As long as you were on a payment break on 31 March, you’ll be able to extend it up until 31 July 2021.
This is as long as:
- it doesn’t go over the 6-month payment break limit, and
- there are no gaps between the payment breaks.
If you’re not eligible for a mortgage payment break extension and you need help with your mortgage payments, visit our Money Worries page.
The impact of extending a mortgage payment break
If you’re thinking about extending a mortgage payment break, it’s important to understand that interest will continue to build at your usual interest rate during the payment break.
This means that the total amount of interest you’ll pay over the term of your mortgage will go up, increasing the overall cost of your mortgage.
As a result, your monthly payments at the end of the break will be higher.
Your credit rating
Although a mortgage payment break extension won’t affect your credit rating, lenders may look at other information (for example, information provided by you, or bank account information) when they decide whether to lend to you in the future.
What you can't do during a payment break
- Change your mortgage by adding or removing someone
- Alter the length of your mortgage term, unless you are in the last month of your payment break
- Change the way you repay your mortgage
Note: It will cost you more in the long term if you take a mortgage payment break. If you’re still able to make your mortgage payments, then you should continue to.
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.
Applying for a mortgage payment break extension
Before you apply, you must have consent from everyone named on the mortgage.
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 have a buy to let mortgage, you can extend a payment break by calling us on 0800 212 508. Our lines are open 8am to 6pm Monday to Friday, and 9am to 12pm on Saturdays.
- If you have a residential mortgage, you can extend a payment break online on our Mortgage Support page.
After your payment break ends
We’ll send a letter to you before your payments are due to restart. It will confirm the start month and the amount of your new payment.
Options for what to do after your payment break
Pay your new monthly payments
If you normally pay by Direct Debit, you don’t need to do anything. We’ll collect your new payment amount. If you cancelled your Direct Debit, you’ll need to set it up again. Remember, this usually takes 2 weeks, so make sure you give yourself enough time before your next payment date.
If you pay by standing order, you'll need to update this to your new payment amount before your payments are due to restart. Contact your bank or building society to do this.
Pay more than your new monthly payment
If your financial situation has improved, you could increase your monthly payments or even pay the payments missed in full. This way, you’ll pay less interest over the long term.
Making overpayments following a payment break will impact your overpayment allowance. But we’ll refund any Early Repayment Charges you’re charged for making up missed payments.
If you were making overpayments before taking a payment break, you’ll need to set them up again.
Cancelling a mortgage payment break
If you’re on a mortgage payment break and wish to cancel it, please contact our Mortgage Support on 0345 606 40 60.
More advice on mortgage payment breaks
For more advice on taking a mortgage payment break visit:
- Mortgage Payment Holidays - Money Advice Service
- A guide to dealing with financial difficulties during the coronavirus pandemic - Financial Conduct Authority
- Coronavirus support - Money Advice Service
- What debts to pay first - Step Change
Other information you may find useful
We’re continuing to assess properties using desktop based valuations, rather than physical valuations, where possible. These are currently being booked within 10 working days.
Protect yourself from fraud
Be aware that some criminals are using coronavirus to trick people into sharing personal or financial information.
Watch out for:
- Cold calls from criminals pretending to be from The Mortgage Works or other respectable organisations.
- Emails that ask you to click on a link to log in, update information, or to access important news.
- Remember that The Mortgage Works will never ask you to move money to a safe account.
- Do not click on links within emails. Go direct to the site using the web address you know to be correct.