Should I Consider A Mortgage Holiday?


Coronavirus Mortgage Payment Holiday



The Government has confirmed that all mortgage lenders in the UK will offer a payment holiday of up to 3 months for people struggling to make payments as a result of the Coronavirus (Covid-19) crisis.
Is it the right time for you to take a payment holiday?
The Mortgage Hive would like to help you to make an informed decision that will work for you during the next few weeks but also for the remainder of your mortgage.

Get Expert Help Applying for Your Mortgage Break Today!
One To Three Month Payment Break
Understand the Pros and Cons
Find Out How It Will Affect Your Future Mortgage Payments

Find Out Now - 5 Simple Steps

Expert Advice - Check If You Are Eligible

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  • Platform residential mortgage
  • Principality first time buyer
  • Santander high street lender
  • Scottish Building Society low deposit mortgage
  • Skipton 1 year accounts mortgage
  • Tesco Bank poor credit mortgage
  • The Mortgage Lender buy to let mortgage
  • The Mortgage Works SPV mortgage
  • TSB 5% deposit mortgage
  • Virgin 10% deposit mortgage
  • aldermore adverse credit poor credit mortgage
  • axis bank commercial mortgage
  • barclays joint borrower sole properitor mortgage
  • Birmingham midshires portfolio lending
  • cambridge and counties mortgage guarantor
  • clydesale self employed mortgage
  • Leeds Building Society holiday let mortgage
  • Halifax new job mortgage
  • metro bank poor credit mortgage
  • nationwide help to buy mortgage
  • natwest high street lender
  • newcastle defaults mortgage
  • coventry sole trader mortgage
  • accord no minimum income mortgage
  • HSBC shared ownership mortgage

Who Can Apply For A Mortgage Payment Holiday?



Anyone affected financially by the Coronavirus can apply

Are you up to date with your monthly mortgage payments?

Do you have consent from everyone named on the mortgage?


Speak To An Expert Now Call 01202 084064

Does It Make Financial Sense
To Take A Payment Holiday?

During this unprecedented time taking a Mortgage Holiday will not affect your credit rating. Freezing your repayments for up to 3 months is appealing for most people but you need to consider how this will alter your future payments. You will still have to pay the interest from the months that you miss payments, although not immediately, it will be added to your Mortgage Balance which will change your monthly repayments.

The Payment Holiday Process

1When can I apply for a mortgage holiday?
You will be able to request a Mortgage Payment Holiday within 3 months of the Governmentโ€™s announcement offering Coronavirus payment holidays (up until June 2020). If you are experiencing financial difficulties due to the Pandemic, you may want to consider this.
2How to contact your lender
You may find your lender is difficult to contact over the coming days or weeks. There is a very high demand for their services. Most Lender allow you to request the payment break via an online form. Please see the Lenders at the bottom of this page.
3Approving a payment holiday
You will not need to give evidence of how Coronavirus has impacted your finances. However if you are currently behind on your mortgage payments, your lender may not agree to a Mortgage Holiday. We could look at alternatives which may better suit your circumstances.
4When will I repay the missed payments?
This varies between lenders, some will add 3 months onto the end of your term. The other option will be to increase your monthly payments for the remainder of your mortgage term.
5Will a mortgage holiday affect my credit score?
Your credit score will not be affected if you decide to take a payment holiday within the 3 months set out in the Governments guidelines. If you do not agree with your lender to take a payment holiday then fail to make your monthly payments, cancel your direct debit or standing order or your payments are late, your credit score will be negatively affected.
6What to expect after the payment holiday?
Monthly payments will begin after the agreed period of Mortgage Payment Holiday. If you are still struggling financially due to Covid 19 call us for further advice.

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Georgia Blackley
Georgia Blackley
5. May, 2022.
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Thanks to the Mortgage Hive we are finally on the property ladder! Paul helped us from start to finish with our first time buyer application, what we needed, what to expect and kept us updated every step of the way. Every question (trust me I had a lot) was answered promptly, confidently and simple for us to understand. Thanks again ๐ŸŽ‰
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Susan PRICE
27. November, 2021.
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Would most definitely recommend the Mortgage Hive Very good at his job knows what he is talking about We had a very difficult application but Paul once again got the mortgage we needed Can't thank him enough for all his hard work and effort. If you are thinking of getting a mortgage, don't waste time looking go straight to Mortgage Hive.
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29. June, 2021.
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As you have seen from the previous reviews Paul seems to be going above and beyond with all of his clients. I am a first time buyer who was not to sure how things worked and I don't think I could have fallen on a better person than Paul to guide me through it. Paul has just been amazing in every aspect of the services provided and I would recommend him to just about anyone with my eyes closed. The service he provided was just simply above and beyond from working out of hours to answering every silly question I had, he was simply without fault. If you are looking for a professional mortgage broker with amazing morals come see Paul he'll get the job done .
Lou Eth
Lou Eth
10. June, 2021.
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Paul is by far the best mortgage broker I've dealt with, and I had spoken to range of different firms by the time I found The Mortgage Hive (if only I had found him sooner, I could probably have saved myself ยฃ500 and got the same or a better deal!) Paul is very competent and knowledgeable and isn't phased by complex situations. He managed to find a solution where others failed, sometimes working out of hours to get things through, with an understanding of the urgent nature of my application. He was also able to refer me on to his colleague Kyle for life insurance and I am equally satisfied with the comprehensive service thus far. I have no hesitation in recommending The Mortgage Hive. It is a gem of a company and I will definitely be returning next time I require a mortgage product.
Keil Hetherington
Keil Hetherington
19. December, 2020.
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My wife and I found ourselves in a strange situation where a wrongful default was placed on our credit file, we needed to sort a mortgage to secure our new home whilst we work din the back ground to remove it. Most mortgages advisers we found were not willing to help as it was to much work. However, Paul was amazing, understanding, patient and very helpful, he was able to find a lender that was competitive, he explained and advised throughout the process and we always knew where we were. I would highly recommend Paul and will be a returning customer without doubt.
Laura Cornelius
Laura Cornelius
5. August, 2020.
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Absolutely blown away with how great Paul was at sorting out our mortgage during the pandemic. He was incredibly helpful, knowledgable and friendly in the whole process. We had a couple of hurdles in the way, but Paul quickly sorted everything out, found us other options immediately and got us our mortgage quicksmart ๐Ÿ™‚ If you are unsure about anything, he will answer any questions and help explain everything clearly so that you do. Thank you so much. We will come back soon for when we need to re-mortgage or get another BTL mortgage ๐Ÿ˜‰
josh brown
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24. January, 2020.
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Paul is absolutely brilliant, I couldn't have moved without his help and guidance. You will certainly be hearing from me again in the future.
Pete Barrett
Pete Barrett
24. January, 2020.
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Paul from the Mortgage Hive, spend hours explaining everything to me in understandable terms and made sure I wasnโ€™t making rash decisions based on Iโ€™ll information, I getting the house and deal I really wanted all thanks to his expertise, thanks again Paul great work
Timothy Ward
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24. January, 2020.
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Paul was very helpful in finding the correct solution to finding my first mortgage.