Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on a mortgage or any other debt secured on it.

Optimum credit

Payment Holiday

All information correct at :

29th November 2020 11:38 pm

If you are enquiring about a COVID-19 payment holiday request, please note that these are unprecedented times and we are experiencing extremely high contact volumes. We are attempting to contact everyone as quickly as possible with pending mortgage payment due dates as a priority.

If your payment is due between the 10th and 17th April and you have not already heard from us, please contact us by clicking the button below and completing Payment holiday enquiry form. 

If your payment is due on or after April 17th please wait to contact us to allow us to help those whose payment is sooner.

If your payment is due on or after the dates stated above please wait to contact us to allow us to help those whose payment is sooner.

Our latest guidance

In these exceptional circumstances we will take a flexible approach and determine how best to help you. It is therefore necessary that we understand the cause of the actual or anticipated financial difficulty and we will discuss this with you. We’re offering a range of forbearance options to support customers who have been financially affected by the coronavirus and we will work with you to understand which is most suitable. All options will be considered, and a Payment Holiday will be offered, if it is the most appropriate solution for your individual circumstances.

If you anticipate or are currently experiencing financial difficulty. Please use the following email address to contact us: customerservices@optimumcredit.co.uk

Please put your payment date and account number in the subject line.

If your payment is due in the next 7 days and you have not already heard from us, please contact us via the social media links on our website. Please do not publicly share any personal details on social media. These should only be shared via direct messages.

Please note that these are unprecedented times and we are experiencing extremely high contact volumes. We are attempting to contact everyone as quickly as possible with pending mortgage payment due dates as a priority.

We may issue an SMS to inform you of an upcoming contact attempt. In the event we are unable to contact you a further SMS may be sent. Please do not reply or send any personal data via SMS.

A payment holiday is when you take a break from paying part or all of your monthly payment.

For the duration of the payment holiday interest will accrue. At the end of the 3 months we will consider what action is most appropriate to your circumstances with the aim to ensure your mortgage payments are affordable and that you can sustain these payments over the mortgage term.

A payment holiday is only one of several options available and might not be the most suitable solution for you. We will help you determine what approach is most suitable for you from a range of forbearance options that we can offer.

No, if a mortgage payment holiday is agreed as the most suitable solution for your circumstances, then the loan will not show in arrears.

If you are not in a mortgage holiday agreement and fail to make the necessary contractual repayments, then the missed payment would be reported to the credit reference agencies in accordance with existing practice.

Some customers may find themselves unable to re-mortgage or take advantage of a product transfer if still in a payment holiday at the end of their fixed rate period or until the payments not made during the payment holiday are repaid .

We will want to understand the real cause of the actual or anticipated financial difficulty and then discuss potential forbearance options with you.

As we may complete an income and expenditure assessment for each applicant, if you are thinking about taking a mortgage payment holiday of up to 3 months we would encourage you to get in touch with us as soon as possible to discuss if this is the best option for you.

For customers in arrears or financial difficulty we would encourage you to contact us as soon as possible so that we can help. We will need to understand your individual circumstances to ensure that we can offer the most appropriate forbearance options.

We recognise that these are unprecedented and difficult times and we are here to help. If you are thinking about the need to take a 3-month payment holiday we would encourage you to get in touch with us as soon as possible to discuss this, or any other forbearance options might be best for you.

You should also visit gov.uk for the latest information about financial support available from the government for your situation.

Once your initial mortgage deal ends you will automatically move onto one of our reversion rate products, these products come with no Early Repayment Charges.

We would recommend that you contact your mortgage broker or independent financial adviser to discuss your requirements.. This may be possible whilst you are self-isolating as many brokers and advisers have made provisions for working remotely via video link or telephone.

No. We would advise that you do not cancel your direct debit until you have spoken to us so that we can discuss your individual circumstances.

In these exceptional circumstances we will take a flexible approach and determine how best to help you. It is therefore necessary that we understand the cause of the actual or anticipated financial difficulty and we will discuss this with you. We’re offering a range of forbearance options to support customers who have been financially affected by the coronavirus and we will work with you to understand which is most suitable. All options will be considered, and a Payment Holiday will be offered, if it is the most appropriate solution for your individual circumstances.

If you anticipate or are currently experiencing financial difficulty. Please use the following email address to contact us: customerservices@optimumcredit.co.uk

Please put your payment date and account number in the subject line.

If your payment is due in the next 7 days and you have not already heard from us, please contact us via the social media links on our website. Please do not publicly share any personal details on social media. These should only be shared via direct messages.

Please note that these are unprecedented times and we are experiencing extremely high contact volumes. We are attempting to contact everyone as quickly as possible with pending mortgage payment due dates as a priority.

We may issue an SMS to inform you of an upcoming contact attempt. In the event we are unable to contact you a further SMS may be sent. Please do not reply or send any personal data via SMS.