If your income is affected by Coronavirus and you are worried about paying your mortgage, speak to your lender as soon as possible.
Mortgage lenders are currently allowing borrowers to apply for a 3 month payment holiday. Be aware that this option may mean your monthly mortgage payment goes up after the payment holiday ends. For more information on how to apply, see the Money Advice Service guide.
Many lenders have also announced extra help for borrowers including :
- not adding fees for late payments
- switching to a lower interest rate.
Click here to find out what support your lender is giving.
Check if you have insurance that will cover your mortgage payments instead. For example, mortgage payment protection insurance or through your bank account.