NewsColony

Mortgage meltdown: Bank chaos as families rush to freeze payments NewsColony Banks are struggling to cope with a flood of calls from frantic families desperate to freeze their mortgage payments.  Anxious borrowers are being forced to wait hours to speak to someone, with one angry homeowner complaining of a ten-hour delay when trying to get through to Santander.  Many lenders are now asking borrowers to submit applications online to free up their helplines, or to only call if they are vulnerable or facing immediate difficulty.  Businessman Tim White (pictured with his wife Rachel and daughters Sophia and Saskia)  spent nine hours on the phone to NatWest to ask for a payment holiday The calls were triggered by Chancellor Rishi Sunak’s announcement that homeowners in financial difficulty as a result of the coronavirus pandemic will be offered a three-month mortgage break, or ‘payment holiday’.  I called NatWest at 9am… and was on hold till they shut a...