Response to the Government’s Mortgage Charter Announcement: Andrew Haigh, Chief Executive, Newcastle Building Society

26 June 2023

“We understand that current events are a growing cause for concern and in some cases, financial difficulty, particularly for those with mortgages. We’re committed to giving customers the information and help they need so they can make the right decision for their particular circumstances.

“Newcastle Building Society is a signatory to the Mortgage Charter, which will introduce some additional measures for those experiencing mortgage payment difficulties in what are very challenging times. We are well prepared to help our customers as we have a comprehensive range of mortgage support options already in place, and encourage our customers to speak with our highly trained team in the first instance to understand the best solution for their individual circumstances.

“In addition to options for customers who may experience difficulty to revise their mortgage payment terms, switch to alternative mortgage products, temporarily defer payment, and move to interest only for an agreed period, we also provide customers with additional support through our Helping Hand Scheme in partnership with Citizens Advice Gateshead. The service is available to our customers nationally and goes beyond mortgage payment difficulties, looking at a holistic range of options including where appropriate, access to food shopping vouchers for those experiencing a financial emergency. Customers have already found this a valuable support, practically and financially, which has given them a greater understanding and sense of control.

“Newcastle also provides access to Payplan, a debt advice management service that customers can choose to be referred through to as part of their conversation with a mortgage customer adviser. The service provides confidential and clear advice and support. Payplan will work with creditors on a customer’s behalf.”