If your income is affected by coronavirus and you are worried about paying your mortgage, speak to your lender as soon as possible.
The deadline for applying to your mortgage lender for a ‘payment holiday’ during the pandemic has now passed.
If you have already had a payment holiday but it was for less than 6 months, you can extend the payment holiday up until 31 July 2021, as long as:
- it doesn’t go over the 6-month payment holiday limit
- there are no breaks in the support.
You won’t be eligible to apply if you’ve already had payment holidays of 6 months overall.
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.