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Payments by Shared-owners, Leaseholders and Freeholders

Payments by Shared-owners, Leaseholders and Freeholders

This is a very difficult time for everyone. Many people have lost their jobs and Universal Credit applications have rocketed, with more claims from people who haven’t claimed benefits previously.

Where possible, shared-owners, leaseholders and freeholders should continue to make payments as per normal. Where this is not possible, be assured we will not pursue any legal action for arrears during this time. The charges will remain payable and we will come to arrangements with customers for repayments when the situation returns to normal and in line with Government advice.

Any concerns regarding your mortgage payments must be discussed with your lender. A mortgage payment holiday is when your monthly mortgage repayments are paused for a set period. Under the Government’s policy, if you are up to date with your mortgage payments, you can apply for a payment holiday of up to three months.

Homeowners who are in arrears on their mortgage should contact their lender, who will review any changes to their circumstances and discuss their options.

Please contact your Home Ownership Officer to discuss any financial concerns.

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