In May we told you about our Home Support Package for customers and what we're doing to help them keep their property.
Here to help
If you have clients who have a mortgage with us and they're experiencing financial difficulty, our new online Home Support Hub on tmwdirect.co.uk will help them get the ongoing support they need quickly and easily.
And we encourage your landlord clients to pass on any payment breaks to their tenants in need of a rental holiday because of Coronavirus.
What does our Hub do?
It will guide customers through their options to help them find an appropriate solution for their needs. That could include a payment break, either partial or full for up to 3 months - on top of any payment holiday support they've already received.
If they do decide to go for a payment break, they'll need to bear in mind it will increase the amount they owe and interest will continue to be added to their mortgage.
They'll find a tool on the hub that allows them to see what the impact of a payment break will be on their mortgage. While their credit rating won't be impacted, lenders may make enquiries about their payment history and take this into account when making future lending decisions.
What information will they need to hand?
- their mortgage account number
- if they're not sure about their income and outgoings, they may find payslips, bills and bank statements helpful
When should they go to the hub for help?
If they've already taken out a payment holiday with us, they should wait until they're in the last month of their existing holiday before heading over to the Hub to get the ongoing support they need.
If they haven't asked us for support yet but they think they need it now, they can go to our Home Support Hub straight away.