Nationwide has announced it will be offering those still facing financial difficulties due to COVID-19 additional mortgage payment breaks, as part of a wider commitment to help people keep their homes.

The society is offering new three-month mortgage payment breaks as well as providing the option to make partial payments towards a mortgage.

Members already receiving payment support will be contacted prior to it ending and directed online if they require further support due to any ongoing financial difficulties resulting from COVID-19, Nationwide said.

The society also stated that payment breaks will continue to accrue interest but that in line with guidance from the FCA, these will not be reported on members’ credit files.
 
Further measures announced by Nationwide coming before the end of June include extending mortgage payment breaks to the society’s buy-to-let (BTL) landlords. The society said it is encouraging landlords to apply for breaks if their tenants are struggling to pay rent due to coronavirus, and where possible to pass on the benefit.

Nationwide director of mortgages, Henry Jordan, said: “Many people are still experiencing financial difficulties as a result of the outbreak and we want to support where we can. While we would always encourage people to pay what they can, there are cases where this is just not possible. For those who continue to be financially impacted as a result of COVID-19, we are here to support them.
 
“The unknown timeframe of how long this impact will last has led us to halting repossessions linked to COVID-19 until the end of May 2021 to give our members as much reassurance as we can. All that we ask is that our members continue to engage with us so that we can agree with them the best way to help them.”

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