3-month Mortgage Holiday

The Government has implemented a mortgage payment holiday for up to 3 months for those struggling financially during this coronavirus crisis.

As your mortgage is most probably your highest monthly outgoing cost, this “holiday” will enable you to reduce your monthly payments, or even stop them completely.

You will first need to speak to your lender and there is a fast-track process in place for those citing difficulty as a result of COVID-19. If this is agreed, you will still need to pay back any unpaid interest accrued over the period of the mortgage holiday, but you won’t receive any additional fees or charges. You may find that when you start repaying your mortgage that your monthly payments have increased to compensate for this. If you have any queries or concerns about this, please speak directly to your lender and make sure you have all the information you need to make an informed decision.

If you are already behind on your mortgage payments, this does not necessarily mean that you will be excluded from being able to take a mortgage holiday – but you will need to speak to your lender for clarification and to understand what this will mean for you.

Get In Touch

Please get in touch if you want to talk more about how we can help you.
We offer an initial consultation free of charge which gives us the chance to meet and discuss your needs, with no obligation.

Accountants in Solihull

Lumaneri House, Blythe Gate, Blythe Valley Park, Solihull, B90 8AH

0121 693 5000

Accountants in Bromsgrove

Five Mile House, 128 Hanbury Road, Stoke Prior, Bromsgrove, B60 4JZ

01527 833124

Jerroms is a trading style of both Jerroms Business Solutions Limited 08923059 and Jerroms (Bromsgrove) Limited 08433008.
Registered office for each of these companies is: Lumaneri House, Blythe Gate, Blythe Valley Park, Solihull, B90 8AH