End of temporary mortgage support

Temporary mortgage support ending

If your temporary mortgage support is coming to an end, here’s what happens next – and how we can help if you’re worried about your repayments.

This information is for you if you’ve had more than three months of temporary mortgage support, and you need help as it comes to an end.

If you’ve had three months’ support or less, there might be other ways we can help.

What happens now my temporary mortgage support is coming to an end?

We’ll write to you before your payment holiday or temporarily reduced payments come to an end, so you don’t need to do anything until then. This letter will outline how your outstanding balance has changed, any interest that’s accrued, and what your future mortgage repayments will be.

As explained when you took out your payment holiday or temporarily reduced payments, we’ve continued charging you interest as normal during this time. We’ve added this to your mortgage balance each month, and we’ll charge interest on that increased amount from the time it was added until the end of your remaining term.

Unless you agree an alternative option with us, we’ll assume that you can return to full payments and automatically spread the payment amounts you deferred, plus the interest, over the remaining term of your mortgage.

Are you worried about your mortgage repayments?

If you’re worried about making your new monthly payments, or need longer-term support, there are other ways we can help. Talking to us about your financial situation, and any issues you have that might affect your payments, makes it easier for us to work out how best to manage your mortgage going forward. If you can afford to make any payments towards your mortgage, it’s generally in your best interest to do so.

While we can’t offer you the same support you’ve had already, we might be able to set up a new payment arrangement for you if you still need help with your mortgage repayments. It’s important you bear in mind that unlike the temporary support you’ve had so far, any payment arrangements you agree to going forward could be reported to credit reference agencies, which might affect your ability to get credit in future. Making further payment arrangements could also increase your mortgage balance, and how much you have to repay.

Before you call us, please fill out our budget form to let us know your circumstances. You’ll need your Temporary Support Unique ID – you’ll find this in the letter we sent you.

This will save time, as it means we’ll already have your information to hand when we speak to you.

After you’ve completed our form, please wait 24 hours for our systems to update your information, then give us a call on 0333 202 7407* so we can go through your options with you.

Don’t have a Temporary Support Unique ID? Just call us now.

Lines are open from 8am to 8pm, Monday to Thursday, 8am to 6pm on Friday, and 9am to 1pm on Saturday1.

If we agree to a new payment arrangement, it might take us a while to put it in place. If your next repayment’s due soon, and your new arrangement isn’t in place in time, we’ll take the full repayment (as shown in your letter), and your new repayments will start the following month.

I’m not sure if I can afford my mortgage repayments. How can I work out my budget, and get support if I need it?

To work out how much you can afford to pay towards your mortgage, you’ll first need to think about your other monthly commitments.

These include essential living costs like food, bills (such as council tax, utilities and phone bills), travel expenses, and paying back anything you owe – like any loans, credit cards or overdrafts you have.

For most people, it makes sense to pay your essential expenses and priority debts first, before you pay anything that’s lower priority. Our handy budget plan [PDF, 2.9MB] can help you work this out.

The Money Advice Service also has a guide on how to prioritise your debts. If you’re struggling to pay all or some of your debts, think about contacting the companies you owe to discuss your repayments.

What other support’s available?

We’ve got lots of practical advice to help you tackle money troubles and debt, improve your financial habits, and see what support’s available.

For independent advice, both the Money Advice Service and the FCA have dedicated pages about financial support following coronavirus.

If you need help with debt, you can get free, independent advice from these organisations

  • StepChange Debt Charity – call them for free on 0800 138 1111 or visit stepchange.org
  • National Debtline – if you live in England, Wales or Scotland, you can call them for free on 0808 808 4000 or visit nationaldebtline.org
  • Citizens Advice – visit your local branch or go to citizensadvice.org.uk

My mortgage rate’s expiring soon. What should I do?

If your current mortgage rate expires in the next 90 days, or you’re currently on a Barclays lifetime variable rate product, you might be able to switch to a lower rate to help reduce your mortgage payments. You can switch your rate anytime and we won’t need an affordability check.

Can I claim on income insurance?

Insurance that pays out for accidents, sickness or unemployment will either be a standalone income protection policy or payment protection insurance (PPI). PPI is offered in combination with a credit agreement, such as a mortgage, credit card or overdraft. You should first check whether you have this type of policy in place and, if you feel you have a valid claim, follow the claims process in your policy documents.

I’m comfortable with my mortgage payments starting again