During the Coronavirus pandemic, our primary aim is to keep our customers and colleagues safe. With this in mind, we will be using alternative means of contact and so please don’t be concerned if we contact you via email or text messages in relation to your mortgage with us. Your peace of mind is our top priority and so please be assured that we will only use the email address or telephone number which you have supplied to us.

Should you have any concerns, then please do not hesitate to contact us on 0344 892 0155

As the impact of COVID-19 is felt across the UK and lock-down continues, we understand this is an incredibly challenging time for everyone and we want to reassure you that we are working hard to provide our customers with the information you require as quickly as possible.

We have also put together the following Frequently Asked Questions which we recommend you read through in detail before requesting a Coronavirus Mortgage Payment Holiday.

If you are concerned about your existing mortgage with us, please do contact our Mortgage Services team on 0344 892 0155 so that we can talk through the options available to you, or if you have received advice from your mortgage intermediary that a payment holiday is the best solution for you, you can request one here and we will be in touch shortly

If I’m impacted as a result of the Coronavirus (COVID-19) situation and unable to meet my mortgage payments, can I apply for a payment holiday?

Yes. If you experience payment difficulties due to the COVID-19 situation and wish to request a payment holiday, please complete the online request form and we will be in touch to confirm acceptance of your request.

Alternatively call our Mortgage Services team on 0344 892 0155.  As you can appreciate, we are currently experiencing unprecedented levels of calls in relation to mortgage payment holidays and so we are doing everything we can to answer every query.

If I don’t want my monthly mortgage payments to increase at the end of the payment holiday, what other options are available?

In the letter confirming your payment holiday, we also told you that there are other options to repay the deferred sums. These options may cost you less over the term of your mortgage.

 For example, you may wish to pay the lump sum off which covered the deferred payments and interest. Once paid, this would mean that your monthly Direct Debit would continue at the same amount you were paying before the payment holiday commenced.

 There are further options available which may also save you money for example: 

1. Arranging to make overpayments to clear the deferred payments and interest over a shorter period. 

2. Paying a partial lump sum towards the deferred payments and interest with the remainder paid back over the term of your mortgage. 

3. A combination of 1 & 2 is also possible.

 In addition to the above options, we could also look at extending the term of your mortgage by the same duration as your payment holiday however this would cost you more in interest than the options set out above.

 If you would like to make a lump sum payment or discuss calculations based on any of these options, please contact our Mortgage Services team on 0344 892 0155

What if my account is currently in arrears, can I still apply for a payment holiday?

If you have existing financial difficulties, or your mortgage is currently in arrears, we can still consider offering you a payment holiday, however, we need to talk with you about this and the other ways we can help you.

Please read our “Support with Financial Difficulties” guide and give our dedicated support a team a call on 0344 892 0155 so we can discuss how we can assist you.

If I take a Coronavirus related payment holiday, can I take another payment holiday in the future?

No. Vida Homeloans has only temporarily allowed payment holidays as a result of the current COVID-19 situation. Vida Homeloans does not normally allow payment holidays.

What does a payment holiday mean?

As a result of the COVID-19 situation, Vida Homeloans will allow you to have a break from your monthly mortgage payment for up to three months.

The payment holiday means that your payment is deferred to a later date. It’s important to remember that you will still owe the outstanding balance and that interest will continue to accrue whilst the deferred payments remain unpaid.

When will the payment holiday take effect?

Where we can, we’ll start your payment holiday from your next payment. However, if your next payment is due in the next 10 working days, your payment holiday may start the following month. We’ll confirm the details when we write to you confirming your payment holiday.

Can I pay something rather than nothing?

Yes. It may be in your best interests to pay something rather than nothing to prevent the accumulation of interest and so if you can afford to make a part-payment, you may wish to consider doing so as this will reduce the amount of interest accrued during this period.

Should I cancel my regular mortgage payment (e.g. Direct Debit or Standing Order) during the payment holiday?

No. We will automatically adjust your Direct Debit for the duration of the agreed payment holiday, we will write to you to confirm when this will restart and the amounts due.

If you pay by Standing Order, you will need to arrange with your Bank to amend the next payment date to reflect the duration of your agreed payment holiday, again, we will confirm this to you once your payment holiday request has been accepted.

How will this affect my mortgage payment at the end of the holiday period?

We’ll be in touch before your payment holiday ends to tell you what your new monthly payment amount will be and the date when payments will begin again. The amount might be higher than before the repayment holiday started. If you’re worried about paying the new amount, contact our Mortgage Services team on 0344 8920155. They will be able to talk through some options, such as extending your mortgage term to ensure your payment is affordable.

Illustrative 3 month example

Capital RepaymentInterest Only
Balance at start of payment holiday£200,000£200,000£200,000
Interest rate4.10%4.10%4.10%
Term remaining at start of payment holiday10 years25 yearsAny
Current monthly payment £2035£1067£683
New monthly payment post payment holiday*£2099£1084£690


* We will write to you before the end of your payment holiday to confirm what your new monthly payment will be and start date of this new payment.

* The above information is for illustrative purposes only if you would like to see an example for your own mortgage a calculator can be found at MoneySuperMarket.com


If I take a payment holiday, will my credit record be affected?

No. An agreed payment holiday will not affect your credit score. 

As an alternative to a payment holiday, could I change my mortgage to interest only?

Vida Homeloans may consider changing your repayment method temporarily from capital & repayment to interest only. Please call our Mortgage Services team on 0344 892 0155 to discuss this in more detail.

Does payment holidays apply to Buy to Let customers?

Yes. Please note the expectation is that the relief is passed on to your tenants. 

Are there any schemes which are excluded for example Help to Buy?

No all schemes are currently available for a payment holiday if borrowers are directly affected by COVID-19. 

If I apply for a payment holiday, do I need to provide any proof?

No. Vida Homeloans recognises that these are unprecedented and difficult times for customers. We are offering our customers who are potentially impacted by COVID-19 the ability to self-certify if they need help. It’s important to remember you will still owe the outstanding balance and interest will continue to accrue whilst the deferred payments remain unpaid.