Published on: 17 June 2020

Our 5 point Home Support Package

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.

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.

1. Greater flexibility around mortgage repayments

This includes 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.

2. The option to take out a new mortgage payment break

We’re offering mortgage payment breaks of 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.

3. We will not take action to repossess your home until 31 May 2021

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.

4. Not forgetting those who rent, we're encouraging 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. Providing extra housing advice and support through our partnership with Shelter

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.

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