In line with the announcement from UK Finance, customers with a Metro Bank mortgage will be able to request a three month repayment holiday where they are experiencing issues with their finances as a result of coronavirus. We’d encourage any customer that may be impacted to contact our Mortgage Servicing Team as soon as possible on 0345 319 1200.

FAQs

Where should we direct customers to? 

Mortgage customers need to contact the mortgage servicing team on 0345 319 1200, who will be able to discuss how we can support them.

What proof will customers need to provide to us? Are all customers eligible?

Under usual circumstances we would assess the customer’s financial situation and ask them to provide information so that we can consider what forbearance options may be the most suitable.  We recognise that these are exceptional circumstances and we want to support our customers, so we are not asking them to provide proof in order for us to consider a repayment holiday. We only ask that they call us so that we can discuss their situation.

This measure covers retail mortgages (buy-to-let and residential).

Customer who are already in arrears may not be eligible for a payment holiday, but there are other ways that we can support them so we encourage them to get in contact.

What is a payment holiday? What if I need a longer holiday after 3 months?

A payment holiday is when we agree you can take a break from paying your monthly mortgage payment. The missed payments do need to be repaid at a later date, how we agree the missed payments are repaid will depend on your individual situation.

We will review your financial situation with you at the end of the 3 month period, if you need more help we will look at the best way we can support you.

How will this impact my credit score?

Where we’ve agreed a payment holiday with you in advance, this won’t lead to any arrears being reported to the credit reference agencies so this shouldn’t impact your credit score. However, if you haven’t come to an agreement with us and you miss a payment, this would be reported to the credit reference agencies in line with our normal process.