We understand Coronavirus is continuing to impact many of our lives. In these uncertain times, we want to reassure our customers that we are here to help if you need us and we will look to be as responsive as possible.

For homebuyers and landlords facing financial difficulty, we are keen to talk to you and find a suitable payment strategy. Below we have provided answers to a number of questions, which we hope will be helpful.

In addition, savers facing hardship will be able to access funds deposited in our notice or fixed term accounts at short notice and with no penalty.

Our approach is very much in line with the Bank’s existing policies to support customers experiencing issues.

We would encourage any customer that is facing financial difficulties to contact us via email or phone. Our contact details are available here.

I have had a payment holiday for 6 months / several payment holidays' totalling 6 months - am I entitled to another one?

If you have already had a payment holiday of up to 6 months then under the support available as part of the government guidance has been exhausted. However, we want to reassure you that in these uncertain times we are still here to help you as there are still options available to you. Please contact us and we will discuss the support we can provide.

I’m able to make my monthly payments at the moment but am worried about being able to make future payments. What should I do?

  • You should continue to make your monthly payments if you can
  • However, if in the future you feel you will struggle to make payments you should contact us and we will discuss the support we can provide and options available to you

What will happen at the end of the payment holiday?

  • At the end of the 6 months, you will still owe the payments that you have not made as a result of the payment holiday
  • We will contact you to discuss your individual circumstances and the options available to you. However, do contact us at any time to discuss your circumstances
  • We will then write to you confirming the action to be taken
  • Where possible, it is in your best interest to start making payments in order to begin to bring your account up to date and to avoid future financial detriment

Will you automatically increase my payments at the end of my 6 month payment holiday?

  • We will not automatically increase your payments
  • We are keen to discuss your individual circumstances with you and agree an appropriate solution
  • We will then write to you confirming the action to be taken
  • Where possible, it is in your best interest to start making payments to avoid future financial detriment

I’m able to make my monthly payments at the moment but am worried about being able to make future payments. What should I do?

  • You should continue to make your monthly payments if you can
  • However, if in the future you feel you will struggle to make payments you should contact us and we will discuss the support we can provide and options available to you

I’m currently in arrears, will the Bank repossess my home / rental property?

  • The current government guidance states that the Bank cannot commence repossession proceedings before 31 October 2020. The Bank is currently committed to not commencing repossession proceedings before this time
  • After 31 October 2020 the Bank will work with you to discuss your circumstances and an appropriate solution with you
  • You should continue to talk to the Bank about your situation

My current fixed rate is coming to an end and I want to switch to a new fixed rate product. Can I apply for a new fixed rate during a payment holiday?

  • Yes, you will still be eligible to take a new fixed rate product with the Bank

Will my credit rating be impacted as a result of the payment holiday?

  • Your credit file has not been impacted. However, any payment holiday may impact on future financing decisions.

How can I contact an adviser?

Where can I find payment holiday guidance?

Any customer considering whether a payment holiday is right for them should consider the following guidance:

Alternatively, there are free advice agencies such as Stepchange, National Debtline and Citizens Advice who can provide additional support and guidance.

I have had a payment holiday of less than 6 months, can I have another one?

If you have already had a payment holiday and you are still being impacted by the Coronavirus, you may be entitled to a further payment holiday before 31 October 2020 provided that your total payment holiday does not exceed 6 months.

This will depend on your individual circumstances so please do contact us as it may be that there is another more suitable option available to you.

What will happen at the end of the payment holiday?

  • At the end of the payment holiday, you will still owe the payments that you have not made as a result of the payment holiday
  • We will contact you to discuss your individual circumstances and the options available to you. However, do contact us at any time to discuss your circumstances
  • We will then write to you confirming the action to be taken
  • Where possible, it is in your best interest to start making payments in order to begin to bring your account up to date and to avoid future financial detriment

Will you automatically increase my payments at the end of my 6 month payment holiday?

  • We will not automatically increase your payments
  • We are keen to discuss your individual circumstances with you and agree an appropriate solution
  • We will then write to you confirming the action to be taken
  • Where possible, it is in your best interest to start making payments to avoid future financial detriment

I’m able to make my monthly payments at the moment but am worried about being able to make future payments. What should I do?

  • You should continue to make your monthly payments if you can
  • However, if in the future you feel you will struggle to make payments you should contact us and we will discuss the support we can provide and options available to you

I’m currently in arrears, will the Bank repossess my home / rental property?

  • The current government guidance states that the Bank cannot commence repossession proceedings before 31 October 2020. The Bank is currently committed to not commencing repossession proceedings before this time
  • After 31 October 2020 the Bank will work with you to discuss your circumstances and an appropriate solution with you
  • You should continue to talk to the Bank about your situation

My current fixed rate is coming to an end and I want to switch to a new fixed rate product. Can I apply for a new fixed rate during a payment holiday?

  • Yes, you will still be eligible to take a new fixed rate product with the Bank

Will my credit rating be impacted as a result of the payment holiday?

  • Your credit file has not been impacted. However, any payment holiday may impact on future financing decisions.

How can I contact an adviser?

Where can I find payment holiday guidance?

Any customer considering whether a further payment holiday is right for them should consider the following guidance:

Alternatively, there are free advice agencies such as Stepchange, National Debtline and Citizens Advice who can provide additional support and guidance.

I haven’t had a payment holiday but I’m considering one/I would like to discuss my Purchase Plan

What is a payment holiday and how do I request one?

  • A payment holiday is a temporary break from making finance payments to help through times of financial hardship, for example, losing your job, having to work reduced hours or for landlords who have tenants facing these issues
  • With a payment holiday, your payments are deferred, which means that you will not have to make any monthly finance payments for a set amount of time, i.e. 3 months
  • The payment holiday will not impact your credit record. However, any payment holiday may impact future financing decisions
  • There are no fees associated with a payment holiday

Under the government guidelines, if you haven’t already had a payment holiday by 31 October 2020 and you are being impacted by the Coronavirus, you may have a payment holiday of up to 3 months. If you would like to contact us to discuss a payment holiday please complete our form here.

What will happen at the end of the payment holiday?

  • In advance of your payment holiday coming to an end and before your next payment falls due, the Bank will contact you to discuss your individual circumstances
  • Where possible, it is in your best interest to start making payments in order to begin to bring your account up to date and to avoid future financial detriment
  • We will then write to you confirming the action to be taken

I’m currently in arrears, will the Bank repossess my home/rental property?

  • The current government guidance states that the Bank cannot commence repossession proceedings before 31 October 2020. The Bank is currently committed to not commencing repossession proceedings before this time
  • After 31 October 2020 the Bank will work with you to discuss your circumstances and an appropriate solution with you
  • You should continue to talk to the Bank about your situation

My current fixed rate is coming to an end and I want to switch to a new fixed rate product. Can I apply for a new fixed rate during a payment holiday?

  • Yes, you will still be eligible to take a new fixed rate product with the Bank

Will my credit rating be impacted as a result of the payment holiday?

  • Your credit file has not been impacted however, any payment holiday may impact on future financing decisions

How can I contact an adviser?

Where can I find payment holiday guidance?

Any customer considering whether a further payment holiday is right for them should consider the following guidance:

Alternatively, there are free advice agencies such as Stepchange, National Debtline and Citizens Advice who can provide additional support and guidance.