22 May 2020

Our Home Support Package

If you’ve been financially affected by coronavirus, we want to do all we can to help you keep a roof over your head, whether you own your home or rent.

In March, we began offering our mortgage members mortgage payment holidays for up to three months. But we understand that the impact of coronavirus could be felt long after that.

Our regulators have also set out guidance on how the financial services sector can best support those who continue to be impacted financially.

For our part, we’ve put together a 5 point Home Support Package to help you through this time.

Our 5 point Home Support Package

If you have a Nationwide mortgage on your home and you’re experiencing financial difficulty, here’s what you can access on our Home Support Hub to help you get your finances back on track.

Either:

1. Flexibility in the way you repay your mortgage, such as making reduced payments for a time, if that’s appropriate for you. We’ll provide you with a solution for your needs based on what you tell us about your circumstances. And we’ll help you understand the longer term impact on your mortgage.

Or:

2. The option to take out a new mortgage payment break – up to 3 months – on top of any payment support you may have already received. Just bear in mind that a payment break will increase the amount you owe and interest will continue to be added to your mortgage.

Plus, whatever happens

3. If you’ve fallen into arrears because of the financial impact of coronavirus and so long as you stay in touch and keep working with us to help get your mortgage back on track, we will not take any action to repossess your home until 31 May 2021. By then we hope your circumstances will have changed.

And we’re not forgetting those who rent

4. We’ll encourage landlords to pass on payment breaks to tenants. We’re contacting landlords who have a mortgage with our dedicated buy to let lender, The Mortgage Works, to let them know we can help if their tenants are struggling with their rent because of coronavirus.

5. We’ll provide more housing advice and support. We have a longstanding partnership with Shelter and right now we believe everyone needs to work together. So, we’re going to provide the charity with extra funding that will pay for more people to take calls on their helplines. We will also support the introduction of new Shelter community engagement officers, who will provide community outreach for those people who struggle to access support.

This article was first published on 22 May and updated on 17 June.

The content displayed on our recent news and articles page is for information purposes only, and is accurate at the time of publication. The information will not be maintained, and so we cannot guarantee that at any given time the information will be up to date or complete. Please verify any information you take before relying on it.

Nationwide is not responsible for the content or availability of external websites. Nationwide does not make any recommendation or endorse any advertising, products, services or other content on such external websites. Views expressed on third party websites are those of the public and unless specifically stated, are not those of Nationwide.

Most popular

You may also be interested in...

Our helpful guides

We've created a range of helpful guides to help you make better financial decisions regardless of your circumstances. Find out more about owning property, growing wealth and planning for life events.

Our products

Whether you are after a current account, a savings account or even looking for a mortgage, Nationwide has a range of great products that could help you, no matter the situation.