Coventry launches online form for payment holidays
Coventry Building Society has launched an online form for borrowers affected by the coronavirus.
The building society will grant payment holidays of up to three months for residential and buy-to-let borrowers.
It stresses that a borrowers’ credit rating will not be affected, but interest will accrue in the holiday period
For residential mortgages, the payment holiday will apply for borrowers who are up to date on their payments, not in arrears, and can confirm they have been financially affected by the pandemic.
Meanwhile, for buy-to-let mortgages, the facility will apply for borrowers who are up to date with their payments, not in arrears and can confirm that their tenants are having difficulty in paying their rent due to coronavirus.
A spokesperson for Coventry Building Society said:“[We] urge borrowers currently in arrears who are impacted by the coronavirus to call our customer service centre.
“Savings and borrowing members can see the latest updates on the society’s response to the coronavirus situation by visiting our website.”