After the announcement regarding Mortgage Holiday’s being extended, I wanted to provide you with an update.

Mortgage Holidays

We are sticking with Government advice and allowing those who have not had a payment holiday to have up to 6 months payment holiday. For those who have previously had a mortgage holiday, they can also access payment holidays but this cannot exceed more than 6 months in total when including the amount of months they have had previously. We will also continue to offer alternative methods such as Interest-Only payments.

Our statement is the same as the FCA;

Borrowers who have been impacted by coronavirus and have not yet had a mortgage payment holiday will be entitled to a six month holiday, and those that have already started a mortgage payment holiday will be able to top up to six months. When your mortgage repayments resume, the total you owe would be spread over the remaining term, therefore, you would see a small uplift in future monthly payments.

Valuations

Currently – valuations are still taking place. We will keep you up to date if this changes.