Mortgage Payment Holiday

In response to the Covid-19 outbreak and the subsequent announcement from the UK government, many lenders have outlined their mortgage payment holiday process.

If you are facing financial difficulty, we encourage you to contact your mortgage lender as soon as possible.

We have provided the menu below for you to easily find the process for your mortgage lender.

 

By clicking the link, you will be redirected from our website to the lender's own site.

When you contact your lender, remember the following:-

1) Document any communications you have e.g. who did you speak to, at what time, etc. So, if later on there are any discrepancies, you have a record of your call.

2) Confirm with the lender whether by taking this holiday, if it will impact your credit history, class as a missed payment or as an arrangement to pay.  Although the answer is likely to be NO, check.

3) If your current mortgage deal finishes during your payment holiday, please ask the lender whether they will consider a product transfer while on a payment holiday. If not and your deal finishes, you could be on their higher standard variable rate when the deal expires.

PLEASE DO NOT JUST STOP MAKING YOUR MORTGAGE PAYMENT WITHOUT SPEAKING TO YOUR LENDER FIRST THINKING THIS WILL BE AUTOMATICALLY COVERED UNDER THE GOVERNMENT SCHEME.

Last updated 25/03/2020

RESIDENTIAL AND COMMERCIAL FINANCE SPECIALISTS

0203 355 2078 / 01702 742 373

London

20 St Dunstan's Hill London EC3R 8HL

 

Essex

Business Hub, Gatweway Building, 10 Elmer Approach, Southend, Essex SS1 1LW

THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP THE REPAYMENTS ON YOUR MORTGAGE.

We normally charge a fee of £499 for arranging a residential / buy to let mortgage. Complex cases (e.g. adverse credit history, Limited company buy to lets & multiple applicants) may have a higher fee. The precise amount depends on your circumstances & the amount of research and administration required. You will be notified about the exact amount prior to application. For offshore & expat mortgages a typical fee of 1% of the mortgage loan size applies.

R3 Mortgages Ltd is an appointed representative of Essex Lending Solutions who are authorised and regulated by the Financial Conduct Authority. R3 Mortgages Ltd is entered on the Financial Services Register https://register.fca.org.uk/  under reference  622213. Registered in England and Wales 8989163. Registered office: 457 Southchurch Rd, Southend-on-sea, SS1 2PH. Some form of buy to let mortgages, commercial mortgages & offshore mortgages are not regulated by the FCA.

©2019 R3 Mortgages Ltd.