Supporting you through coronavirus

Service update 

Due to the impact of coronavirus, we will be changing our branch and contact centre opening hours. View our current opening times.

If you have a question about your savings or your mortgage, and need to speak to us, please read our Frequently Asked Questions before you call.

Last updated 10:30am 25/03/2020

We appreciate you might be concerned about the impact of coronavirus and want to reassure you that we’re here to help with any worries you might have about your savings and mortgages with us. We want to be as flexible as we can be in helping our Members and colleagues through these challenging times.

Our priority remains the wellbeing of our Members and colleagues but in order for us to ensure we’re able to help our most vulnerable Members, please only call us if you require immediate assistance with your mortgage.

Mortgage update

The UK Government announced that mortgage lenders will support customers who are experiencing issues with their finances as a result of COVID-19. If you’re worried about what this might mean for your mortgage payments, we can explore a range of options, including up to a three month mortgage holiday. Submit your request with our mortgage payment holiday form.

Buy-to-let borrowers will also be eligible for a payment holiday of up to three months if their tenants have lost income due to the impact of coronavirus. In those circumstances, we would expect landlords to pass on the benefit of the payment holiday to their tenant.

If you’re worried about how your mortgage payments may be affected by COVID-19 in the future, please refer to our Frequently Asked Questions for more information.        

Savings

Members worried about accessing their savings due to coronavirus pandemic can be assured that we will do all we can to help. We can explore a range of options including emergency access to savings in fixed term accounts without consequence. Please refer to our Frequently Asked Questions for more information.

Branch update

At the moment, the branches that are open are on reduced operating reduced hours. We will remain open Monday - Friday between 9:30am - 1:30pm and Saturday 9:30am-12:00pm. The contact centre is also on a reduced schedule from 9am - 5pm weekdays and 9am-1pm on Saturdays. 

We will continue to monitor the situation closely and there have been circumstances where we have needed to temporarily reduce the number of colleagues available, or close branches. We aren't taking this decision lightly, and will try to ensure any disruption is kept to a minimum. Find your local branch.

Keeping up to date

Keeping our Members and colleagues safe is our number priority and we will keep you updated with any changes on our website, on social media, and if we can, by email.

As we’ve been around for over 160 years, supporting our Members and colleagues is at the heart of everything we do. We’re working hard to make sure we’re here to help you however the situation develops.
Our Members’ savings are protected by the Financial Services Compensation Scheme (up to £85,000 for account or £170,000 for a joint account).
 
We appreciate you might be concerned about the impact of coronavirus and want to reassure you that we’re here to help with any worries you might have about your savings and mortgages with us. We want to be as flexible as we can be in helping our Members and colleagues through these challenging times.

Our priority remains the wellbeing of our Members and colleagues but in order for us to ensure we’re able to help our most vulnerable Members, please only call us if you require immediate assistance with your mortgage. 

 

Mortgages FAQs

I’m directly affected by coronavirus and I may have issues paying my next mortgage payment?

We have a range of options that may be available to you, these include:

  • Mortgage payment holidays
  • Accessing funds in fixed bonds / withdrawal limited accounts 
  • Exploring alternative options with you

Our Customer Service Team are experiencing very high call volumes due to the impact and we appreciate your patience at this time. We are keen to prioritise providing support to those customers who have an immediate need.

For those customers who are already in arrears, some options may not be available to you however please call us if your situation has changed since you last engaged with our support teams. 

Customers should be aware that any payment holiday may mean that the total paid over the life of the mortgage may be more than originally stated.

What happens if I am asked to reduce my hours or if I lose my job?

In this challenging time for the economy, we understand that the effects of coronavirus are wide ranging and not always directly health related. Once you understand the impact of the change to you and if this affects your ability to pay your mortgage, we recommend you contact us to discuss your options.

As a Buy-to-Let customer, what options do I have?

Tenants may be facing difficult financial situations. Where there is a direct impact to their ability to pay their rent, we are able to offer payment holidays. This is designed to allow you to provide direct relief to the tenant and provide you both with some relief at this time. Due to the volume of calls we are handling, please only call us immediately if you are in this situation at the moment.

Customers should be aware that any payment holiday may mean that the total paid over the life of the mortgage may be more than originally stated.

I don’t think I will have any difficulty paying my next mortgage payment but I may do in the future?

We are currently experiencing very high call volumes and our priority is to support those Members with immediate challenges.

We do however recognise that the effects of coronavirus are likely to continue for some time and the options available to our Members now will continue to be available as the situation progresses. Should your situation change, please fill in our mortgage payment freeze form or give us a call at least 10 working days ahead of your next scheduled payment. 

What is a payment holiday?

With a payment holiday you will not have to make any monthly mortgage payments for a set amount of time, in this case up to three months.

However, it’s important to remember that you still owe that money and the interest on your mortgage still accrues during a payment holiday.

At the end of the payment holiday we will contact you to assess your circumstances and agree a manageable way for you repay the interest charges incurred and make up the deferred payments. We’ll agree a way to do this with you, see our form here for more information.

Savings FAQs

What happens if I need access to my funds immediately?

In this challenging time for the economy, we understand that the effects of coronavirus are wide ranging and not always directly, health related. Should you need access to an account that usually has withdrawal penalties or fixed term bonds due to coronavirus, this will be an option available to you without consequence. 

I’m not able to access the branch due to isolation or illness, how can I access cash?

We have a range of ways that we can help our Members who need to access their money quickly. Contact your local branch to discuss your options. In the meantime, if you are a Your Account online user and have an instant access account, you can transfer a request of money to your nominated account.

 

Principality. Where home matters.