We understand that this is a particularly worrying time for all our customers and that as a result you may not be in a position to pay your mortgage loan with Step One at the moment. We would like to reassure you that we are doing all we can to assist our customers who are in this position. If your income has been reduced or you have otherwise been negatively affected by the COVID-19 pandemic, please call us to discuss up the possibility of taking a payment holiday for up to 3 months. Our customer service team is available from 9:00am to 5:30pm from Monday to Friday (excluding bank holidays) to answer any questions and to provide assistance.

Please be aware that, while you will not need to make your regular payments during an agreed payment holiday, interest will continue to accrue on the balance of your account. After the payment holiday has concluded, we can work with each customer based on their personal circumstances to negotiate a payment arrangement which will bring your account back up to date. In order to do this your monthly payment may increase and therefore we suggest that you only make use of a payment holiday if you absolutely need to. If you would prefer to make part of your payment during the payment holiday period, please speak with our customer service team and let us know how much you can afford to repay each month.

Your credit file will not be impacted by any payment holiday request. If you were already in arrears and unless you have reduced them during this month, your credit file will be reported as before. For instance, if you were 2 months in arrears and reporting as a 2, you will continue to be reported as a 2, during your payment holiday. If you were not in arrears and reporting as 0, you will continue to be reported as 0 during the payment holiday. Your outstanding loan balance will be reported based on the current amount outstanding each month.

We understand that each customer’s situation and circumstances are different, and we are here to help. Please call us at 01483 661 100 to speak with a customer service representative.

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Please note that Step One Finance does not charge up-front fees for any loan enquiries or applications. You should be wary of any parties purporting to arrange a Step One Finance loan who are seeking to charge up-front fees. Please contact us if you have any doubts regarding a Step One Finance loan application. Customers can also obtain additional information on the FCA’s website on the dangers of Loan Fee Fraud by clicking here.

THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT.

IF YOU ARE THINKING OF CONSOLIDATING EXISTING BORROWING YOU SHOULD BE AWARE THAT IF YOU ARE EXTENDING THE TERM OF THE DEBT YOU MAY BE INCREASING THE TOTAL AMOUNT YOU NEED TO REPAY.

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