During Payment Holiday
My payment holiday didn't start as early as I thought it would
We implemented payment holidays as quickly as we were able to, recognising that in some cases we needed to wait the following month before the payment holiday could commence. If you feel any delay has caused you financial difficulty, please contact our servicing team on 0800 052 0520
What is happening to my loan during the payment holiday period?
Interest is still applied to your loan at your usual interest rate during your payment holiday.
The payment holiday will not impact negatively on your credit report and it will reflect that you have an agreed Payment Holiday
What impact will my payment holiday have on my future payments?
Interest is still applied to your loan at your usual interest rate during your payment holiday. When your payments restart the monthly amount may increase to cover the payment holiday. We will recalculate the new monthly payment and confirm this in writing to you at least 2 weeks before they are due to start again. You can use this link to calculate what your increase monthly payment is likely to be.
Can I cancel my payment holiday?
If you find you no longer need your payment holiday, or don't need it for as long as you initially thought, you can cancel this by calling our servicing team on 0800 052 0520
Can I make payments even though I have a payment holiday agreed?
Yes, you can make partial or full payments at any time. Please call our servicing team on 0800 052 0520 for more details.
By making a payment, even if this is lower than your contractual monthly figure, it will reduce the impact of your payment holiday when your new monthly payment is recalculated.