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Mortgage payment problems

Helpful information and how we can help.

If you think you may have problems paying your mortgage due to Covid1-19,  and you have not yet agreed a mortgage payment holiday with us, please read the section below for guidance. 

The FCA issued proposed guidance for lenders on 22 May 2020 which outlines how we should treat borrowers with mortgage payment holidays when they come to an end.

The guidance is in consultation with lenders until early June, at which point it will be finalised and the Society will consider the options that will be offered to borrowers. We do not have the answers today, so please avoid contacting us unless, you wish to:

  • Cancel your existing payment holiday.
  • Extend your existing payment holiday to 3 months (if you originally opted for one or two months).
  • Speak with someone about your individual circumstances because you consider yourself vulnerable.

When we have finalised our policy, we will publish it on this page and include in our individual communication to customers whose mortgage payment holiday is due to end. We expect these communications to be sent 4 weeks prior to the date the first payment is due following the mortgage payment holiday.

We are in the process of contacting customers whose mortgage payment holiday is due to end and their subsequent payment is due in June. If you have not heard from us, please contact us on 01635 555588 to discuss your options with us.

Further information - Visit our further information page where you will find help and guidance on the following topics:

  • What to expect – What happens when we get in contact and the steps we take to help you
  • Your credit rating – How underpayments and missed payments can affect your credit rating
  • Leaseholder and shared owner charges – Information on problems paying charges in relation to leasehold and shared ownership properties
  • Debt advice – Contact details for debt advice agencies and further information on helping paying your mortgage
  • Repossession & legal action – What happens if we do start legal proceedings?
  • Other things to consider 
  • Complaints 

Please remember it is always better to contact us as soon as you realise you may be having trouble paying your mortgage. We are here to help and want to arrange with you a plan of action to help you stay on track with your mortgage.

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How can we help you?

01635 555777

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