We understand some of our customers may be worried about making their next mortgage payment. Regardless of when your next payment is due, if you pay by Direct Debit, you can apply for a mortgage payment holiday online.

Please read the information below to make sure you understand the full details before applying or find out how to contact us if you don’t pay your mortgage by Direct Debit or you can’t make your next mortgage payment within the next 10 days.
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What is a mortgage payment holiday?

If you’re adversely affected by coronavirus, the Government has confirmed that you can take a mortgage payment holiday on your residential or Buy to Let mortgage for up to three months to help your financial situation.
 
If you take a mortgage payment holiday, this means that you wouldn’t make mortgage payments for up to three months and we’ll add these payments onto your mortgage balance. As a result, your mortgage balance will increase, and your monthly payment will be recalculated over your remaining mortgage term. Your monthly payment and the amount of interest you pay will increase for the remaining term of your mortgage. There is no fee for taking a mortgage payment holiday.
 
If you’re currently up to date with your payments, the mortgage payment holiday will not impact your credit score, and you will not go into arrears on your mortgage.
 
If your mortgage is already in arrears, you can still apply for a mortgage payment holiday and your current arrears will remain outstanding. The payment holiday will not increase your current arrears.
 
Please be aware that if you pay by Direct Debit and your mortgage payment is due within the next 10 days, we may not be able to arrange the mortgage payment holiday for your next monthly payment due to the automated Direct Debit collection process. If not, it will take effect from the following month.

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I cannot pay my next mortgage payment because I have been affected by coronavirus. What can I do?

Santander has a dedicated team on hand to support you if you’ve been financially impacted by coronavirus (Covid-19) and they’ll be able to discuss the different payment options available to you for your residential or Buy to Let mortgage.
 
One of the options available is a mortgage payment holiday, also known as deferring your monthly mortgage payment. If you take a mortgage payment holiday, this means that you won’t make your mortgage payments for up to three months and we’ll add these payments onto your mortgage balance. As a result, your mortgage balance will increase, and your monthly payment will be recalculated over your remaining mortgage term. Your monthly payment and the amount of interest you pay will increase for the remaining term of your mortgage. There is no fee for taking a mortgage payment holiday.
 
If you’re currently up to date with your payments, the mortgage payment holiday will not impact your credit score, and you will not go into arrears on your mortgage.
 
If your mortgage is already in arrears, you can still apply for a mortgage payment holiday and your current arrears will remain outstanding. The payment holiday will not increase your current arrears.
  
Please be aware that if you pay by Direct Debit and your mortgage payment is due within the next 10 days, we may not be able to arrange the mortgage payment holiday for your next monthly payment due to the automated Direct Debit collection process. If not, it will take effect from the following month.
 
How to apply

  • Online – regardless of when your next payment is due, if you pay by Direct Debit, it’s quick and easy to apply for a payment holiday. 
  • By phone – if you don’t pay by Direct Debit or you can’t make your next mortgage payment within the next 10 days, call us on 0800 023 4603. We are helping a lot of customers currently and we’re sorry that our wait time is significantly higher than usual.  

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Am I eligible to apply for a mortgage payment holiday online?

Regardless of when your next payment is due, if you pay by Direct Debit, you can apply online for a mortgage payment holiday.

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Once I’ve applied for a mortgage payment holiday, what happens next?

Whether you apply for a payment holiday online or by phone, once we’ve received your application, if you’ve provided your mobile number, you’ll receive a text message the next day confirming receipt of your application. 
 
Once we’ve processed your application, we’ll send you another text message confirming that the payment holiday has been set up. We’ll also send you confirmation by post including what it means for your mortgage. Please be aware that there could be delays to the postal service.
 
Then during your payment holiday period, we’ll write to you after each monthly payment is added to your mortgage balance confirming your new monthly payment.

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I’m not struggling to pay my mortgage yet but am concerned that I might struggle to pay my mortgage over the next few weeks/months due to coronavirus. What shall I do?

If you’re able to make your monthly mortgage payments for the time being, please carry on doing so. 
 
However, if you’re going to struggle to pay your mortgage as a result of coronavirus, you can apply online for a mortgage payment holiday. This is regardless of when your next payment is due as long as you pay by Direct Debit. This is the quickest and easiest way for you apply. 
 
Or you can call us on 0800 023 4603 if you don’t pay by Direct Debit or you can’t make your next mortgage payment within the next 10 days. We’re sorry that our wait time is significantly higher than usual. 

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I’ve got more than one mortgage with Santander for which I’d like to take a payment holiday. How do I apply online?

If you have more than one Santander mortgage you wish to take a payment holiday for, please complete a separate online form for each property.

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What can I do to reduce my increased mortgage balance

If your circumstances change during or after the mortgage payment holiday period, you can overpay on your mortgage to reduce the additional interest added to your mortgage balance. For more information on ways to overpay please visit the ‘Manage your mortgage’ page at santander.co.uk.

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My property is due to be inspected in person by a valuer. Is this still going ahead? 

Following the latest Government advice, our valuation partners are no longer able to inspect properties in person. They’re currently contacting agents and property owners to make them aware. It’s important to note that our valuation partners are not cancelling valuations, but simply placing them on hold until further notice. 
 
Where we can check the property value without needing to enter the property, we’ll continue to do this.

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I recently requested to change my existing Santander mortgage deal and I’m concerned that coronavirus may prevent my request from being processed. What do I do?

We’d like to reassure you that all our product transfer requests are being reviewed and processed as normal. If you have any questions about your transfer request, please speak to your mortgage broker or a member of our Santander Mortgage Telephony team. We may be busier than usual, so we please ask you not to contact us unless you need to update us about your product transfer. 

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I recently requested to change my existing Santander mortgage deal. Will my new mortgage deal still start on the date you’ve communicated to me if I’ve requested a payment holiday or my payment holiday has already started

Yes, your new deal will start on the date previously communicated to you and you‘ll receive another email confirming this as well as a completion statement as soon as it starts.

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Can I request a new deal with Santander if I’ve already applied for a payment holiday or my payment holiday has started?

Yes, you can apply for a new deal if your existing deal ends within the next 4 months.

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How do I request a new deal with Santander?

The deals available to you are exactly the same whichever way you apply:

  • If you already use Online Banking, once logged on go to the Manage my Mortgage Hub to review and compare all the new deals available to you. If you’re happy to choose a deal without advice, you can also request your new deal
  • Alternatively, you can use our Online Mortgage Transfer Service without advice at santander.co.uk/changing-deals
  • Contact your Independent Financial Adviser (IFA) or mortgage broker.

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