Financial support

We’re here to support you

We know many of you are worried about the impact COVID-19 may be having on your finances, but rest assured we’re here to help you any way we can.

The easiest way to manage your account is through online services. If you need to contact us then please email recoveries@krbs.com, and we’ll deal with your enquiry as soon as possible. If it’s essential that you speak with someone, you can call us on 01634 835044, but we’re trying to ensure priority is given to those in the greatest need of help.

Our regularly updated COVID-19 FAQs contain all the information you need to know.

If you need to request a new mortgage payment holiday

If you’re able to maintain your regular mortgage payments then please continue to do so. However, if you think you may struggle to make a mortgage or loan payment due to COVID-19, and you’ve not already had a payment holiday of up to three months, you can request one now.

The quickest way for you to apply for a mortgage payment holiday is to complete our online mortgage payment holiday form.

If you’ve taken a mortgage payment holiday and continue to experience financial difficulties

If you’re concerned about your ability to make future mortgage payments, we may be able to consider further support. This may include an extension to your payment holiday. As the guidance in place from the Government is changing daily, requesting an extension to a current payment holiday too soon may not be the right thing for you to do. If you believe you’re going to experience ongoing financial difficulties, please don’t contact us until the last month of your current payment holiday. This will help us to prioritise dealing with customers who have imminent need of further assistance.

Before we can agree to any further support, we’ll need a full understanding of your current household income and outgoings, and would ask you to complete our income and expenditure form.

Making alternative arrangements to repay your missed payments following a mortgage payment holiday

Unless you tell us otherwise, any payments missed during a payment holiday period will be capitalised to your mortgage. This means that your outstanding mortgage balance will increase and the total amount of interest you pay over the term of your mortgage will also increase. To help you understand what ‘capitalisation’ means we’ve included a definition in our frequently asked questions.

There are other options available to you if you don’t want to add the capitalised amount to your mortgage. You can choose to:

• Repay the amount now as a single lump sum.
• Repay the amount over a shorter period of time by increasing your monthly payment.
• Discuss the possibility of arranging an extension to your mortgage term. Before any term extension can be agreed, we will need to talk with you to gain a full understanding of your circumstances.

How these options work

Paying a lump sum

Before we can recalculate your monthly payment you’ll need to repay the capitalised amount. Please call us on 08002 985714 to speak to a member of the team who’ll confirm this payment amount. Once we’ve received your payment, we’ll write to you confirming your new monthly payment amount.

You can choose to pay the lump sum by debit card or by bank transfer.

Increasing your monthly payment amount

To repay the missed payments over a short period of time, please complete our Increasing your monthly payment amount form

Extend the term of your mortgage

Extending your mortgage term will result in you paying more interest over the term of your mortgage, we therefore need to fully understand your circumstances so we can determine why you are making the request and whether we can agree to a term extension.

We’ll need a full understanding of your current household income and outgoings and would ask you to complete our income and expenditure form. Once completed you can email the form to us at recoveries@krbs.com. Please state in your subject line that you’re looking to extend the term of your mortgage. Please be aware that this is an unencrypted mailbox and any personal information sent to it will not be secure.

Alternatively, you can return the completed form to us by post at:

Kent Reliance
Reliance House
Sun Pier
Chatham
Kent
ME4 4ET

A member of our team will call you within 5 - 7 working days to discuss your request further.

If we’re unable to agree to your mortgage term extension request, we’ll explain the reason why and explain what other options are available to you.