Guide to Payment holidays
Got an expensive month?
Cash Reserve lets you borrow money at cheaper mortgage rates. Find out how your mortgage can help you plan your financial life.
Find out about Cash Reserve
Sit back and relax from your mortgage for a bit
When finances are stretched, wouldn’t it be good if you could take time off from your mortgage?Freestyle lets you take up to two payment holidays a year as long as you have sufficient funds in your Cash Reserve or Prepayment Reserve.
Isn’t that much more appealing instead of dipping into precious savings or relying on a credit card?
How do payment holidays work?
It's simple:- Call us 22 days before you want to take a break from your mortgage and we’ll arrange it for you.
- There are no fees to pay.
The facts:
- Taking a payment holiday will increase your monthly payments, the interest payable and the remaining balance secured on your property.
- Arranging a payment holiday is subject to the Terms and Conditions of the mortgage offer for additional lending.
- You must have sufficient funds in your Cash Reserve or Prepayment Reserve.
Find out more about Payment holidays
To find out more, read Your Questions on Payment holidays or call us on 0845 845 8450.
