- The payments and interest not made during your mortgage payment break or deferral period will need to be repaid at the end of the payment break period.
- You could end up paying more interest over the term of your mortgage when taking a mortgage payment break.
- Your monthly payments could increase at the end of your payment break.
- Taking a mortgage payment break won’t negatively impact your credit file during your mortgage break period. But it’s important to know that lenders may use information obtained from other sources, such as bank account information, in future lending decisions.
Please only complete this form if you’re applying for a mortgage payment break for the first time. This form can only be used once, so if you’ve already applied, or are currently in a payment break then you’ll need to wait until you receive a letter from us in order to apply for a further mortgage payment break.