Covid-19 FAQ - Payment Holiday
Where can I get more information about payment holidays?
We have set up a page dedicated to payment holidays, explaining what it is, what it means to you and how to go about requesting one. Please see new payment holiday information.
Will there be an impact to my credit file?
Your credit file will not be adversely affected during the period of your payment holiday. For example, if your loan is reported as up to date before your payment holiday, it will continue to be reported as up to date at the point the holiday ends. However, lenders may use other sources of information to assess a loan application such as bank account statements.
My account is in arrears, can I still get a payment holiday?
Payment holidays will be considered if your account is in arrears, but we may want to speak with you before agreeing this to make sure it is the most appropriate way to help. Please see new payment holiday information.
Will interest still be charged during a payment holiday?
Yes, interest will continue to be charged during the payment holiday.
What will happen at the end of the payment holiday?
At the end of your payment holiday, we will look to agree a manageable way to make up the deferred payments given your circumstances.
If your payments are currently up to date, we will amend your monthly payments to account for the payment holiday period. If you are currently in arrears, we will discuss the options available to you, and ensure your arrangements are affordable.