Payment Holidays: What Happens Next.

To help you make the right decision for you at the end of your payment holiday, we've produced this guide to the options available.

If you're coming to the end of a payment holiday or similar payment arrangement with Together, we will have sent (or be sending) you a letter to confirm next steps - including the different repayment options available to you.

To help you make the right decision for you at the end of your payment holiday, we've produced this guide to the options available to you.

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What is a payment holiday?

I'm a personal customer. What happens at the end of my payment holiday?

I'm a commercial customer. What happens at the end of my payment arrangement?

My payment holiday or arrangement is due to end but I am still struggling financially - what are my options?

I have a different query about my payment holiday

What is a payment holiday?

A payment holiday is put in place when you and your lender agree that you won't make repayments on your mortgage for a period of time. The payments are deferred, so they will still need to be repaid and interest will continue to be applied at your current rate. This means that the total amount that you need to repay over the term of your mortgage will increase during a payment holiday.

In order to repay the deferred payments and associated interest within your contracted term, either your monthly payments will need to increase or additional payments will need to be made. There are alternative repayment options available, which are outlined below for both personal and commercial customers.

I'm a personal customer. What happens at the end of my payment holiday?

We've listed below the four repayment options available to you following the end of your payment holiday.

The repayment options are listed starting with the standard option we may apply, and then in order of the options which will allow you to pay your deferred payments and associated interest most quickly.