What is a payment holiday?

A payment holiday offers you a break in payments on debts if you’re struggling to afford them.

If you’re worried about paying your mortgage or rent following the coronavirus outbreak, you could be entitled to a payment holiday of up to 3 months without it affecting your credit score.

If you're looking for information on how to change or cancel a regular overpayment to your mortgage, please visit our FAQs.

How do mortgage payment holidays work?

Mortgage payment holidays mean you can pause your payments for up to 3 months, so you don’t have to repay anything at all during that period. However, you still continue to accrue interest during this time, so you’ll end up paying more over the long term.

Who can apply for a mortgage payment holiday?

We want to provide help to everyone who needs it, and particularly those who need it most urgently. So we can do that, please only apply if:

  • you have an existing HSBC mortgage
  • your finances have been affected by coronavirus
  • your income has reduced - for example, you've lost your job or are able to work less hours
  • you have consent from everyone named on the mortgage

If you're a landlord, you may also be eligible for a mortgage payment holiday if you have tenants who are unable to pay their rent.

Find out what to do if you're already behind on your mortgage payments here.

How can you apply for a mortgage payment holiday?

If you've read the above and want to get in touch about a mortgage payment holiday, you can fill out a simple online form. We're currently receiving a high number of applications and we'll do our best to get back to you within 7 days.

You’ll need your mortgage sort code and account number to hand. You can find them on your mortgage statement or mortgage offer, and in online banking.

If the form doesn’t appear, this may be due to high usage. Please try again later. 

Will a mortgage payment holiday affect my credit score?

If you agree a payment holiday with us, we’ll record it to make sure it doesn’t impact your credit score.

How do rental payment holidays work?

If you’re a tenant and you think you may struggle to pay your rent in light of coronavirus, you need to speak to your landlord directly.

Emergency legislation introduced following the coronavirus outbreak means landlords won’t be able to start proceedings to evict tenants unless the tenant has missed more than 3 months of rent payments. This applies to private and social renters.