"Our support package is aimed at providing short-term relief to those who have been financially affected by coronavirus and to ease their worries"
It confirmed that these will not be registered as arrears on a person’s credit file and will be offered until at least 30 April.
The payment breaks can be applied for online, with the Society aiming to respond to applications within five to seven working days.
As with personal loans, a mortgage payment holiday will take effect from when the following month’s mortgage payment is due. In the event a direct debit is already in progress, the break would take effect from the following month.
Payment holidays for buy-to-let mortgages can be arranged via The Mortgage Works – Nationwide’s buy-to-let arm.
Sara Bennison, who oversees Nationwide’s products and propositions, said: “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.”
