Mortgage Payment Holiday Support
On March 31st the Mortgage Payment Holiday scheme ended, although payment holidays or extensions arranged before 31st March will remain in place for the duration of the agreed term.
Members who have received support with their mortgage will receive a letter from us approximately 2 weeks before it’s due to end that outlines their new monthly repayments.
If you are comfortable with your new monthly payment, you should restart them. This will avoid accruing more interest. Click here for more information on restarting your mortgage payments.
If you’re in a better financial payment following support and would like to make an over payment to cover your missed mortgage payments, regularly or as a lump sum, please visit our page on making over payments.
However, we understand these are difficult times and so if you need ongoing support with your mortgage, we can explore a range of options with you, including payment deferrals or temporarily switching to interest-only payments for an agreed period of time. Please be aware that further support may need to be reported to credit reference agencies and may adversely affect your credit rating.
To ensure we can offer you the right support, we need to understand your current financial situation and so require all Members to complete a Budget Planner online first.
It’s really important Members complete the Budget Planner as this will help us to assess your situation and tailor support to suit your needs.
Principality. Where home matters.