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What is a mortgage payment holiday?

A payment holiday gives you some flexibility in repaying your mortgage by allowing you to stop or reduce your monthly payments for between 1 and 12 months (subject to eligibility).

If you have the payment holiday feature and meet the eligibility criteria, your monthly payments will be recalculated at the end of the payment holiday and may increase. It's important to remember that even though you may miss payments due to the payment holiday, you will still have interest added to your mortgage.

Am I eligible for a payment holiday?

You may be able to apply for a payment holiday if your Nationwide mortgage was reserved on or before 3 March 2010 or if you have an eligible Cheshire or Derbyshire mortgage. Please check your mortgage offer for more details.

You're eligible if:

  • You haven't had a payment holiday in the last 12 months
  • You haven't been declined for a payment holiday in the last 6 months
  • Your mortgage is less than 80% of the value of your home at the end of your payment holiday
  • The Department for Work and Pensions aren't making payments to your mortgage
  • You haven't had a term extension within the last 12 months
  • Your account hasn't been in arrears in the last year
  • Your property isn't currently let
  • Your mortgage isn't shared ownership
  • Your mortgage wasn't regulated by the Consumer Credit Act at the time you took it out
  • Your mortgage term has at least 12 months remaining after the payment holiday finishes.
  • You haven't taken additional borrowing on your Nationwide mortgage in the last 12 months

How do I request a payment holiday?

Step 1

Check your mortgage offer or give us a call on 03457 30 20 11* and we'll check for you.

Step 2

Call us on 03457 30 20 11* to request a payment holiday. It's not currently possible to request a payment holiday online or in branch.

Step 3

Receive confirmation from us that your payment holiday has been approved.

Step 4

We'll notify you when your payment holiday ends and advise your new monthly payment.

*Monday to Friday, 8am to 6pm.
Saturday 9am to 12:30pm.
Closed Sundays and bank holidays.

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