Need to take a break?

When a customer is hit with vulnerability that affects them, or the person they share the mortgage with, it can be stressful. Customers want the re-assurance of flexibility around the options available to them in the event of such vulnerability. That’s why we have introduced our payment break, allowing borrowers to be stress free for 6 months. Breathing space when it’s needed the most.

When a payment break is needed

This can occur when one or both borrowers move into long term care, have a terminal illness, or dies, resulting in financial difficulty.

Our solution

Time – Vulnerability can occur at any time, for a variety of reasons, it’s nice to know cover is available. Payment breaks give customers the time needed to make other arrangements and heal emotionally.

Secure – Our six months payment break doesn’t affect credit history, giving the borrower peace of mind during a stressful period. It also gives a sense of reassurance and comfort for them and their family.

Forever – Unlike other lenders this won’t be a temporary measure, our payment break is here whenever it is needed. We want to be flexible and are considerate of situations that our borrowers can face.

We also offer this if the youngest or sole borrower is aged 85 or over and is in financial difficulty.

If our payment break is for breathing space, it’s important to remember that it can only be used once in the life of the mortgage, and that these payments will be added onto the balance of the mortgage, accruing interest.