-

Coronavirus mortgage payment holiday

Coronavirus - mortgage payment holiday

Apply for a payment holiday or temporarily reduced payments for up to three months

See if you’re eligible and apply for the first time – and find out how payment holidays and temporarily reduced payments affect your mortgage. 

Important – before you apply

This page is for people who haven't had any temporary mortgage support.

If you have had temporary mortgage support, and you need help as it comes to an end, please read:

These FAQs if you've had less than three months support

These FAQs if you've had more than three months support

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. Payment holidays and temporarily reduced payments for residential and buy-to-let mortgages are two options that may be available to support you.

What are mortgage payment holidays and temporarily reduced payments?

A payment holiday allows you to take a break from making your contractual monthly mortgage payment for up to three months. With a payment holiday, you’d pay nothing during the break, and with temporarily reduced payments you can choose how much you can afford to pay. 

Am I eligible for a mortgage payment holiday or temporarily reduced payments?

Payment holidays and temporarily reduced payments are available whether you have a mortgage for your home or for a buy-to-let property and your income has been affected by coronavirus.

Please read the following information carefully before applying – you’ll find out how to do this at the end of this page.

When will my regular payments stop and begin again?

We’ll do our best to start your payment holiday or temporarily reduced payments 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 or change your payments to what you can afford from your next payment date. Otherwise, you’ll have to make your next payment unless you contact us. 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 regular payments when the payment holiday or temporarily reduced payments begin.

There’s no need to cancel your Direct Debit, as we won’t collect your regular payments while your payment holiday or temporarily reduced payments are in place. We’ll write to you when your payment holiday or temporarily reduced payments are due to end to explain your next steps and provide further support if you require.

If you pay by a different method, you’ll need to stop or amend the payments and make sure they begin again when the payment holiday or temporarily reduced payments end. If your payment is due within nine working days, and this will cause you financial difficulty, please contact us. You can find out how to contact us below.

My payment holiday won’t start until next month, but I urgently need to stop this month’s payment – what should I do?

If you’re having a problem getting through to us by phone and you urgently need to stop your next payment, you should cancel your Direct Debit by contacting the bank your mortgage payment comes from. If it’s a Barclays account, you can cancel the Direct Debit in Online Banking and the Barclays app. We’ll make sure your credit record is not affected if you don’t pay your next due payment because of the coronavirus situation. Please make sure you set up a new Direct Debit to start in time for when your payment holiday ends, to help ensure you don’t miss any payments. We’ll contact you towards the end of your payment holiday to help you set up a new Direct Debit.

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.

Will a payment holiday affect my credit file?

No – a payment holiday won’t be recorded on your credit file, so it won’t affect your credit score, but lenders might take it into account when making future lending decisions.

Will I be charged interest on my mortgage while the payment 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.

What would be the impact of a payment holiday or temporarily-reduced payments?

Our online calculator is a helpful tool to give you an estimate of the impact on your mortgage. Click this link to use it, which will take you to the site that’s hosting it for us. You can come back here when you’ve got your results.

For more details about your existing mortgage – such as your monthly payments, balance, remaining term and interest rate – check your mortgage statement, log in to your Barclays app or Online Banking and select the mortgage section. You can also call us1 on 0333 202 7580.

Before your payment holiday ends, we’ll be in touch to let you know what your new monthly payment amounts are and when they’ll start. The amount might be higher than before your payment holiday. If you’re worried about making your new payments, get in touch to discuss other options, such as extending your mortgage term.

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 payment holiday?

Yes, we can discuss a number of other options with you. Our support team will help you find the best solution for your individual circumstances.

Can I also switch to a different rate during a payment holiday?

Yes – you can submit an application to switch during a payment holiday. If you’ve already applied for a rate switch that hasn’t taken effect yet, that’s OK too. Rate switches won’t affect the terms of your payment holiday.

How do I ask for a payment holiday if I have more than one mortgage, or a mortgage with more than one part?

If you have more than one property, you need to fill in a payment holiday form for each mortgaged property.

If we approve a payment holiday on a property where there’s more than one mortgage account, we’ll automatically apply the payment holiday to all accounts for that property. 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.

I’ve borrowed money through my Mortgage Current Account (MCA) – will a payment holiday automatically stop payments to that account?

As long as your MCA balance is within its credit limit, there’s no need to make a payment to it every month. If you’ve set up optional payments to this account, we won’t automatically cancel them when if we agree to a payment holiday on your mortgage. You can pause any optional payments by cancelling the Direct Debits or standing orders you’ve set up, and restart them when you’re ready. Just remember that we’ll continue to charge interest on any money borrowed through your MCA.

I’m a landlord – am I eligible for a payment holiday if my tenants have been financially affected by the coronavirus situation?

Yes – we offer payment holidays in this scenario on the understanding that you pass this relief on to tenants who are struggling to pay their rent. If you’re applying because your tenants have been affected by coronavirus, please select ‘Yes’ to the question ‘Has your household income been affected by the coronavirus situation’ on our online form.

How do I stop making overpayments on my mortgage?

How you can stop overpayments depends on whether you’re making changes to your regular mortgage payments, and how you make the overpayments.

If you’ve requested a payment holiday or to change to interest-only payments, and have a Direct Debit overpayment arrangement, we will treat your request for a payment holiday as an instruction to cancel the Direct Debit overpayment arrangement when that payment holiday or interest-only period starts. If you’d like your Direct Debit to carry on after this period ends, you’ll have to set it up again – we can’t do this automatically. You can do this by logging in to Online Banking and selecting ‘Regular overpayments’, or by giving us a call when you are ready to start making overpayments again.

If you aren’t requesting a payment holiday or interest-only period but want to stop any Direct Debit overpayments, please call us.

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 an account with us, you can do this in Online Banking or the Barclays app.

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 if I have a joint mortgage?

We’ll accept a request from anyone named on the mortgage. We’ll only send confirmation to the person who’s requested the payment holiday.

How could this affect my future mortgage payments?

We’ll continue to charge interest as normal during your payment holiday or temporarily reduced payments. We’ll add this interest to the amount you owe, which increases the balance we charge interest on. Taking a payment holiday or temporarily reduced payments won’t affect your mortgage’s terms and conditions.

When the payment holiday or temporarily reduced payments end, we’ll increase your monthly payment amount unless you agree another option with us. This means you can make up the payments you deferred over the rest of your mortgage term. It also means you’ll pay interest on the deferred payments over the remainder of the mortgage term.

If you can afford to make any payment towards your mortgage, it’s generally in your best interest to do so.

Here’s an example of how a payment holiday could affect your repayments after the holiday ends.

Outstanding mortgage balance: £50,000

Payment reduction for 3 months

Payment during holiday

Payment after holiday

Increase in monthly payments

Total borrowing cost

Increase in total borrowing cost

No reduction

£261.31

£261.31

£0.00

£66,961.32

£0.00

75% of payment

£195.98

£262.35

£1.04

£67,027.81

£66.49

50% of payment

£130.66

£263.39

£2.08

£67,094.31

£132.99

25% of payment

£65.33

£264.42

£3.11

£67,160.81

£199.49

Full payment holiday

£0.00

£265.46

£4.15

£67,227.30

£265.98

Outstanding mortgage balance: £100,000

Payment reduction for 3 months

Payment during holiday

Payment after holiday

Increase in monthly payments

Total borrowing cost

Increase in total borrowing cost

No reduction

£522.63

£522.63

£0.00

£133,922.63

£0.00

75% of payment

£391.97

£524.70

£2.07

£134,055.63

£144

50% of payment

£261.31

£526.77

£4.14

£134,188.62

£265.99

25% of payment

£130.66

£528.84

£6.21

£134,321.62

£398.99

Full payment holiday

£0.00

£530.92

£8.29

£134,454.61

£531.98

Outstanding mortgage balance: £200,000

Payment reduction for 3 months

Payment during holiday

Payment after holiday

Increase in monthly payments

Total borrowing cost

Increase in total borrowing cost

No reduction

£1,045.25

£1,045.25

£0.00

£267,845.27

£0.00

75% of payment

£783.94

£1,049.40

£4.15

£268,111.25

£265.98

50% of payment

£522.63

£1,053.54

£8.29

£268,377.24

£531.97

25% of payment

£261.31

£1,057.69

£12.44

£268,643.23

£797.96

Full payment holiday

£0.00

£1,061.83

£16.58

£268,909.22

£1,063.95

These examples are a guide to help you understand how a payment holiday or temporarily reduced payment might impact your mortgage. They’re based on the assumption that the interest rate and mortgage term will remain the same after the payment holiday, and are not due to change under the existing terms and conditions. We’ll send you revised payment details showing the impact on your mortgage before the end of your payment holiday. All payments in these examples are based on a repayment mortgages of £50,000, £100,000, and £200,000 payable over 240 months.

Our online calculator is a helpful tool to give you an estimate of the impact on your mortgage. Click this link to use it, which will take you to the site that’s hosting it for us. You can come back here when you’ve got your results.

How do I apply for a mortgage payment holiday or temporarily reduced payments?

Apply online for your first payment holiday

If you haven’t had a mortgage payment holiday before, the quickest way to apply for one is to fill in our online form – but please make sure this is your first one, and you’ve read the answers above before deciding to do this. It can take up to nine working days to process your form, and we’ll send you a text once we’ve processed it.

Temporarily reduce your payments for the first time

If you’d like to temporarily reduce your payments for the first time, please call us on 0333 202 7504 to see if you’re eligible. We’re open Monday to Friday between 9am and 5pm, and Saturday between 9am and 1pm. Before calling, please make sure you’ve read the answers above. If you can afford to make any payment towards your mortgage, it’s generally in your best interest to do so.

Already had a payment holiday?

If you want a further payment holiday or you’re looking to temporarily reduce your payments, select ‘Further support’ below.

Where can I find out more information on support during this time?

Find practical advice to help you tackle money troubles and debt, improve your financial habits, and see how we can offer you support

For more advice, Money Advice Service has a dedicated page for coronavirus support.

FCA has also shared some information on how to deal with financial difficulties during the coronavirus situation.

If you’d like independent advice on your financial situation, you can get this free from the debt-counselling organisations below:

StepChange Debt Charity – call them on 0800 138 1111 or visit stepchange.org

National Debtline – if you live in England, Wales or Scotland, call 0808 808 4000 or visit nationaldebtline.org

My Money Steps – for help managing your money, visit mymoneysteps.org

Citizens Advice – visit your local branch or go to adviceguide.org.uk

How can I contact Barclays if my question isn’t covered here?

We have fewer colleagues than usual answering the phones right now because of the coronavirus situation. This is having a big impact on our call waiting times – we’re truly sorry about this. If you have an immediate financial problem that isn’t covered above, and which can’t wait, call us on the relevant number.

Payment holiday requests if you’re up to date with mortgage payments

For your home – 0333 202 7492

For buy-to-let – 0333 202 7416

Payment holiday requests if you’ve missed any mortgage payments – 0333 202 7407

Questions about closed or matured mortgage accounts – 0333 202 7416

Lines are open Monday to Thursday, 8am to 8pm, Friday, 8am to 6pm and Saturday, 9am to 1pm. Lines are closed on Sunday.

To maintain a quality service, we may monitor or record phone calls. Call charges.