As a responsible lender we will assess your application to ensure that you are able to maintain your revised mortgage payments, protecting you from future payment difficulties.
As part of our application process we will use information provided to us by Credit Reference Agencies. If you have any adverse credit (Defaults, County Court Judgements or Arrangements to Pay), any missed or late payments or any balances that have been written off, this will affect your eligibility for a Payment Holiday.
An affordability assessment will be undertaken. This is undertaken to ensure that payments can be maintained both now and in the future. In order to complete this assessment you will need a recent bank statement and accurate balances on any other credit agreements you have along with the payments you make to these other credit providers. If you are unable to provide us with the accurate information this may mean we need to request additional information and this may delay the application process.
If we can't offer you a Payment Holiday, due to your circumstances, our Customer Assistance Team may be able to discuss an alternative solution with you.