Coronavirus help & support | Mortgage payment holiday | Barclays
Questions and answers
Coronavirus - Mortgage payment holiday
If you’re concerned about any aspect of your mortgage because of the continuing coronavirus situation, we can help.
A note about calling us
We’d be really grateful if you could read these questions and answers carefully. We know it’s a worrying time, which means lots of people are trying to get through. There’s no need to call unless you’re worried about an immediate impact on your financial situation caused by the coronavirus outbreak. Thanks for bearing with us – and check back regularly, as we’ll update the information here as the situation changes.
How is Barclays supporting mortgage customers during the coronavirus situation?
We’re offering a number of ways to support customers who have been financially affected by the coronavirus. Repayment holidays for residential mortgages is one of a number of options that may be available to support you.
What is a repayment holiday?
A repayment holiday allows you to take a break from making your contractual monthly mortgage payment for up to three months. This is only available for residential mortgage customers for now. We’re currently working on ways to support our buy-to-let customers in the short term.
Am I eligible for a mortgage payment holiday?
To save you time, please check the criteria below before calling us.
At the moment, we’re only offering payment holidays if you have a residential mortgage (for your home), and if your income has been affected by the coronavirus situation. We currently looking at a way to help our buy-to-let customers in the short term.
If you’re experiencing longer-term financial difficulties (including if you’re already in arrears), a repayment holiday might not be suitable for your needs.
If you don’t meet the criteria now, please keep checking this page as we’re constantly reviewing the best way we can support you.
When will my payments stop and begin again?
We’ll do our best to start your repayment holiday as soon as possible. If you submitted your application at least nine working days before your next payment date, and we approve it, we’ll stop taking your payments from your next payment date. Otherwise, you’ll have to make your next payment. We’ll confirm everything in the text message when we get back to you. If you pay by Direct Debit, we’ll stop collecting your payments when the payment holiday begins. If you pay by another method, you’ll need to stop the payments and make sure they begin again when the payment holiday ends.
Can I choose to begin a payment holiday from a specific date?
No, if we agree to a payment holiday, we’ll start it as soon as we can after you fill in the form. If you want your payment holiday to begin at a later time, please come back and fill in the form at that time.
Can I ask for a payment holiday if I’m in dispute with another joint mortgage holder?
You’ll need to call us to talk about the situation instead of filling in the online form – see below for contact details.
What happens if I’m approved for a payment holiday?
If you pay by Direct Debit, we’ll stop collecting your payments when the payment holiday begins, and contact you to remind you when we’ll start collecting payments again. If you pay by another method, you’ll need to stop the payments and make sure they begin again when the payment holiday ends. Just remember that we’ll continue to charge interest on your mortgage balance during the payment holiday – please read ‘How will this affect my mortgage payment at the end of the holiday period’, below.
Does a repayment holiday affect my credit file?
No – arranging a repayment holiday won’t harm your credit file. It’s really important, though, to contact us as soon as possible if you need a repayment holiday, especially if you’re worried that you might not be able to make your next mortgage payment.
Will I be charged interest on my mortgage while the repayment holiday is in place?
Yes, we’ll continue charging interest on your mortgage, and we’ll apply it to your mortgage balance monthly. You will not, however, have to make any payments during the holiday period.
How will this affect my mortgage payment at the end of the holiday period?
We’ll be in touch before your payment holiday ends to tell you what your new monthly payment amount will be and the date when payments will begin again. The amount might be higher than before the repayment holiday started. If you’re worried about paying the new amount, our support team will be able to talk through some options, such as extending your mortgage term to ensure your payment is affordable.
Will I have to prove I’m suffering financial difficulty as a result of coronavirus?
We won’t ask you to provide evidence, but we’ll need to work through your individual circumstances to find the most appropriate way to support you.
Are there are any other options available to me other than a repayment holiday?
Yes, we can discuss a number of other options with you. These could include the option to switch to interest-only payments for a limited period. Our support team will help to find the best solution for your individual circumstances.
How do I ask for a payment holiday if I have more than one mortgage, or a mortgage with more than one part?
You only need to fill in one form for each mortgaged property. We’ll apply the payment holiday to all mortgage accounts at that address. For example, if you’ve borrowed more money on your original mortgage for something like home improvements, that part of your mortgage could have a different account number.
How do I stop making regular overpayments on my mortgage?
It depends how you set up your overpayments. If you have a standing order that makes an additional payment to your mortgage account, you can simply cancel it with the bank the money comes from. If it’s a Barclays account, you can do this in Online Banking or the Barclays app. For Direct Debit overpayments that we’ve set up for you, you’ll need to call us.
Where do I find my mortgage account number to use in the online form?
Your account number will either be six or ten digits long, and there are a number of places you can find it, including
- In your original mortgage offer letter
- Any mortgage payment notice from us
- Your annual mortgage statement
- In Online Banking or the Barclays app, if you use these services
If you are using Online Banking, the 10-digit account number will be made up of the last two digits of your sort code and your 8-digit account number.
How do I apply for a mortgage payment holiday?
The quickest way is to fill in our online form – but please make sure you’ve read the answers above before deciding to do this. As we’re dealing with lots of requests for payments holidays right now, it can take up to nine working days to process them. We’ll send you a text message once we’ve processed your request. Thanks for bearing with us, and please don’t call us after submitting your online form.