Nationwide offers payment holidays to BTL sector

Nationwide has announced that it is offering mortgage payment holidays of up to three months to both residential borrowers and landlords. The lender says that the three months of none-payment will not be registered as arrears and that they will be offered until "at least" 30 April. Residential borrowers who need a holiday are being asked to apply for a payment holiday online if possible, while those with a rental property who need to do so can arrange matters through The Mortgage Works.

Nationwide chief marketing officer Sara Bennison says: "these are difficult and uncertain times and we want to do what we can to provide support for those who most need it. Our support package is aimed at providing short-term relief to those who have been financially affected by coronavirus and to ease their worries by giving greater reassurance. "We have focussed on providing a simple online service which will not only help streamline applications but also free up our telephone lines for those who are unable to get online.

"As a mutual owned by our members, we have a responsibility to help those who require additional financial support.

Never has that been truer than now."

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