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Payment Holidays: What Happens Next.

21 Jul 2020 | 2 min

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.


Articles on our website are designed to be useful for our customers, and potential customers. A variety of different topics are covered, touching on legal, taxation, financial, and practical issues. However, we offer no warranty or assurance that the content is accurate in all respects, and you should not therefore act in reliance on any of the information presented here. We would always recommend that you consult with qualified professionals with specific knowledge of your circumstances before proceeding (for example: a solicitor, surveyor or accountant, as the case may be).

Lending decisions are subject to an affordability/creditworthiness assessment.

Any property used as security, including your home, may be repossessed if you do not keep up repayments on your mortgage or any other debt secured on it.

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