Missed payments: how we can help

We will work with you to find the best solution to pay back the arrears, whether that is arranging repayment plan, changing the dates of your payments or extending the period of your loan or mortgage.

If you have or are overdue with your , we will contact you as soon as possible to discuss your circumstances.

However, we would encourage you to contact the Bank to discuss any financial problems that you may be facing, including if you think you might miss a payment due to a change in your circumstances, so that we can discuss and agree the best way forward.

Cynergy Bank Mortgages

If you are worried about payments on your Cynergy Bank Mortgage, there are a number of support options to consider.

These are dependent on your individual circumstances and will require an eligibility check. Options include, but are not limited to:

• Extending the term of the mortgage: this means that you will pay back your mortgage over a longer period.

• Changing the repayment type: if you have a capital and interest repayment mortgage, we can look to change this to interest only on a temporary basis. This means that your mortgage payment will only cover the interest, not the amount you borrowed. Once you go back to paying your mortgage in the usual way, your payment will cover both the interest and the capital, and the payments are likely to be higher at this time. Taking an interest-only payment period means that the total amount you'll need to repay will be higher.

• Payment holidays: we may be able to agree a temporary arrangement to pause or reduce your mortgage payments for a specified period. Interest will continue to accrue during the period which will increase your overall mortgage balance and could extend the term of your mortgage when payments start again.

• Mortgage refinance: this will be a new mortgage contract on different terms than the existing mortgage. The new mortgage could be on a different interest rate or over a longer term or have a different repayment structure.

• Capitalisation of arrears: this is where any missed or overdue payments (arrears) are added to the loan balance instead of being paying off separately. As a result, future interest calculations will be calculated against this new loan balance potentially increasing the overall cost of the mortgage and the monthly repayment amounts.

If we cannot offer you a solution, we will explain why.

If we can offer a possible solution, we will explain how each option works and give you time to consider your next steps.

You may want to discuss the options with an independent adviser.

Personal overdraft

If you have a Cynergy Bank Personal Current Account Overdraft and you are worried about the balance of your overdraft, there are a number of support options that we can consider.

These are dependent on your individual circumstances and will require an eligibility check. Options include, but are not limited to:

• Reviewing the interest rate of the overdraft.

• Agreeing staged reductions in the overdraft limit and balance i.e. agreeing a repayment plan to bring the overdraft down to a more manageable amount.

• Transferring the overdraft debt to an alternative credit product on more favourable terms (e.g. a Personal Loan). Cynergy Bank does not offer any alternative personal credit products, but you may find that there are cheaper alternatives sources of credit elsewhere.

If we cannot offer you a solution, we will explain why.

If we can offer a possible solution, we will explain how each option works and give you time to consider your next steps.

You may want to discuss the options with an independent adviser.

Related links for more information

• (includes links to organisations offering free independent advice)

• (includes details relating to Power of Attorney, Assisting someone with their account)