If you’re not financially impacted at this time and can continue to make your mortgage payments then we encourage you to do so.
You will need to make up the payments later in your mortgage term, your monthly payments may increase and you’ll pay more interest overall.
About my credit rating
There shouldn’t be any impact on your credit rating during your mortgage break period. However, its important to understand that lenders may use information obtained from other sources, such as bank account information, in their future lending decisions.
If you can’t afford to start making your monthly payments at the end of your mortgage break, we’ll work with you to find a suitable solution. If you do enter an arrangement to make non or part payments for an agreed period, then we’ll be required to update your credit report to reflect this and it will show as missed payments on your file.
Do I need to set up a new Direct Debit or standing order?
If you've cancelled your Direct Debit or standing order during your payment break, you’ll need to set it up again now. If you choose to take a further mortgage deferral, we’ll place your Direct Debit on hold, so no payments will be taken until we’ve agreed a repayment option with you. It’s really important to get your Direct Debit sorted as a missed payment can affect your credit rating.
If you need to restart your Direct Debit and your bank account is the same then call us on 0333 321 1000 and we’ll set up your Direct Debit. Or request a call back by email and we’ll call you.
If you’ve changed the bank account you want to pay your mortgage from (including changes like your name) then you’ll need to set up a new Direct Debit. Call us on 0333 321 1000 or fill in the Direct Debit form and post it back to us straight away. Information on where to send it is in the form.
We need to advise you that emails sent to and from Aldermore are not secure and could be accessed by an unauthorised person. Whilst we take appropriate measures to safeguard information you provide us, no email can ever be guaranteed secure.