The North Yorkshire Mortgages Ltd portfolio of mortgages will be transferred over to Skipton Building Society later this year. It is anticipated that this will be at the end of May 2021 at the earliest.
From the date of transfer, Skipton Building Society will be responsible for setting any future interest rate changes and charges on all mortgages (unless the mortgage is linked in whole or in part to Bank Base Rate (BBR) or London Inter-Bank Offered Rate (LIBOR) where any changes to those elements will continue to be driven by those external reference rates). At the present time, we understand that its policies on the handling of arrears (payment shortfall) and the setting of mortgage interest rates and charges are similar to our policies.
If you have a Direct Debit set up currently, no action is required. Prior to the transfer, we will write to customers to confirm when Skipton Building Society will begin to collect customers Direct Debits. If you make payments by standing order, cheque or bank transfer, again, no action is yet required and prior to the transfer new bank details will be confirmed to you. New contact details will also be included with that letter. In the meantime, all enquiries regarding your mortgage account should continue to be referred to us.
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We want to make it easy for everyone to use our services, and we recognise there may be times when additional assistance is required.
For visual or hearing impairments, documents can be provided in braille, large print or audio up on request.
If you need any help in communicating with us, you can set up a Third Party Authority (TPA) on your account to liaise and discuss matters on your behalf.
Our colleagues are always happy to help, so please ask if you need anything.
If you are concerned about making your mortgage repayments as a result of the current situation, we’re here to support you. Please ring us on 0345 130 4145 or email us at firstname.lastname@example.org. We’ll be in touch as soon as we can to discuss your individual circumstances, which will include the option of a payment holiday. Please note we will get back to you as soon as possible but are currently experiencing high call volumes.
In the meantime, leave your Direct Debit in place if you have sufficient funds to cover your regular monthly payment. You can also make a payment by bank transfer or online.
If you have already taken a 3 month payment holiday and are still experiencing financial difficulty, please do not contact us to discuss the options available until the month your payment holiday is due to expire.
Please note: Whilst we are working on the basis of industry and government guidance to ensure that the payment holiday will not adversely impact your credit file, we cannot guarantee how other lenders will interpret the payment holiday when assessing any future lending decisions. Lenders may take into account other information when making future lending decisions, including, for example, information provided by you as an applicant and bank account information. If your account is currently up to date, then your credit file will continue to reflect this status. If you are currently in arrears, then your credit file will continue to reflect the same arrears status during the payment holiday as immediately prior to it. We will continue to send monthly arrears letters, as your previously missed payments are still outstanding.
If you require support with debt or arrears, The Money and Pensions Service have an online tool to help people navigate their finances in the wake of Covid-19 to provide guidance which is personalised according to people’s needs. The tool can be accessed using the following link: moneyadviceservice.org.uk/moneynavigatortool/Creditor