Coronavirus Information
23March 2020

Corona-Virus update

We are all in unprecedented times and here at Equifinance we are here to assist and support you during this uncertain period.

We are aware that during this time you may have concerns about maintaining your second mortgage account with us.

This has expectedly resulted in an enormous demand and high volume of calls to our customer services team. We apologise that at times you may be on hold for longer than we’d like or may not even get through, but we can assure you our staff are working tirelessly to support you. Please be patient and courteous to those trying to assist.

Equifinance wishes to ensure we are offering appropriate and proportionate forbearance to our customers during this period.

Please see our Frequently Asked Questions below, they should provide answers to some of the most urgent and commonly asked questions:

How can we help?

We want to ensure those in urgent need have access to us by telephone therefore if you anticipate having difficulty in making future payments that is NOT due within the next 14 days. Please contact us by email and consider the following steps before calling us as this will greatly assist us in serving all our customers and to give priority to those in urgent need.  You will not suffer any detriment by following these guidelines

  • If your payment is not due within the next 14 days, where possible please contact us by email at  and provide the following:
    • Your name
    • Your agreement/account number e.g. EQUIF1234
    • A contact numbers
    • A brief summary of your circumstances

Q. I cannot pay my next mortgage payment because I have been affected by coronavirus. What can I do?

One of the options available is a mortgage payment holiday, also known as deferring your monthly mortgage payment. If you take a mortgage payment holiday, this means that you wouldn’t make your contractual mortgage payments for up to three months.

We will not charge you a fee for taking a mortgage payment holiday, however we will continue to charge interest on your mortgage and at the end of the holiday period your monthly payment will increase.

This will mean the total amount you will pay over the remaining term of your mortgage will increase. In order reduce this amount, it is advisable to make payments towards your account during the payment holiday period as your affordability allows.

Payments can be made via Debit Card over by calling 0208 045 1375 during office opening hours or via our website

Alternatively, you can pay via Standing Order or Bank Transfer by using the banking details below-

Bank:                                  Barclays

Account Name:                 Equifinance Ltd
Sort Code:                          20-01-58
Account Number:             23538230

Reference:                         Your agreement/account number e.g. EQUIF1234

We will advise you of the revised monthly amount payable at the end of the expiry of the payment holiday period in advance of such payments becoming due.

If your mortgage is not in arrears, the mortgage payment holiday will not impact your credit rating, and you will not go into arrears on your mortgage.

If your mortgage is already in arrears, please speak to us about the options available to you.

Please be aware that if you pay by Direct Debit and your mortgage payment is due within the next 4 working days, we will not be able to arrange the mortgage payment holiday for your next monthly payment. It will take effect from the following month.

Q.  How long can I have a payment holiday for?

A.  You may be able to take a payment holiday for up to 3 months but please let us know if a shorter period is more suitable to you, as that will help to minimise the impact on your future payments (after the expiry of the payment holiday).

Q.  Will I have to provide any evidence when requesting a payment holiday?

A.  This will depend on individual circumstances, but we will be doing whatever we can in this difficult time for all of us by following the guidance issued by the government and the regulatory authorities.

Q.  Will you add any charges to my account if I am in a payment holiday?

A.  Please see answer above, and while there is no fee for taking a payment holiday, your overall debt is likely to increase due to the additional interest charged on the outstanding balance at the contractual rate.

Further information regarding payment holidays can found on the FCA’s website

Q.  What options are available to me upon exiting my payment holiday?

Firstly and prior to your payment holiday ending it is vitally important you contact us to agree a way forward.  The options available will include:

  • Increasing your monthly payment so that your loan is repaid in the initial term.  The estimated amount of this increase will be included in communications we send to you.
  • Continue to repay your current monthly payment but this will extend your loan term in order to repay the additional interest added to your loan. As a guide the term will be extended by at least the length of your PH assuming all future and past payments have been made on time.
  • Make a lump sum payment to cover the deferred sum.  As an estimate this will be the total of the payments you have not made but please note there will be some further additional interest that is payable on the outstanding payments.
  • Make a part lump sum payment and then adopt either of the first 2 options above.

Once you contact us we will be able to give more specific details of how each option will affect you.

RT @EquifinanceUK: We're featured on @SFILatest with details of how we have strengthened underwriting, administration and IT systems: