5 August 2020

Principality partners with Podium Solutions to deliver online mortgage payment holiday service

Principality Building Society has partnered with fintech company Podium Solutions to deliver an improved online mortgage payment holiday service.

Provided by Podium Solutions, the online service has been designed to offer a  seamless customer experience for Members seeking guidance and help on the payment holiday options available to them, which includes reduced monthly mortgage payments.

The online service also includes a mortgage holiday repayment calculator which allows Members to assess the long term affordability of a payment holiday for them. Members can then fill in an online application form, choosing the support option applicable.

Support available to Members facing difficult circumstances includes applying for reduced monthly mortgage payments, extending their existing payment holiday term or requesting a new payment holiday. Members who find themselves in a more comfortable financial situation than before can also request to make an overpayment to cover previously missed mortgage payments or restart payments using this service.

Julie-Ann Haines, Chief Customer Officer, Principality Building Society said:
‘’We chose to partner with Podium Solutions as they are specialists in digital mortgages and are also the technology provider to MoneySuperMarket. Establishing this partnership with Podium Solutions has allowed us to provide a straightforward and easily accessible online service for Members who need support on their mortgage payment holiday options and next steps.

“We understand it’s been a difficult time for our Members and since the pandemic, we have provided 15,000 homeowners with an initial three-month mortgage payment holiday. We would advise all Members considering further support to use the mortgage payment holiday calculator available to them to assess the financial affordability of a payment holiday in the longer term.’’

James Sadler, Co-founder and Director of Strategy, Podium Solutions said:
‘’We’re proud to have delivered the bespoke payment holiday calculator and customer integration service, which supports Principality’s Members. Helping lenders create and develop digital solutions for mortgage related services is part of our strategy at Podium, and we are pleased to be working with the team at Principality Building Society.''

To find out more, visit www.principality.co.uk/coronavirus

Published: 05/08/2020