Struggling Financially

Loan repayment breaks

Payment support available to our Personal and Premier customers

Worried about making your loan repayments?

If you are struggling to cover your loan repayments, you might want to apply for a 3-month repayment break.

At the end of your payment break, you will be required to cover the payments you would have made and interest that has built up during the break period.

Please note that if you decide to call us, calls may be recorded for training and monitoring purposes.

Frequently asked question

What is a loan payment break?

A payment break allows you to stop paying your loan for an agreed period of time.

If full payments are not made to your loan there may be circumstances in which we have to inform Credit Reference Agencies and this may impact your credit rating/score. The extent of the impact to your credit rating/score will depend on your overall financial profile. If this is the case, we will inform you during your application.

For further information on the impact you should speak with an independent debt advice agency who can give you support and advice.

Details of free money advice agencies (PDF, 29KB)

How will this impact my loan repayments going forward?

A loan repayment break will give you a break of up to 3 months from your loan payments however the term of your loan will not be extended.

At the end of your payment break you will be required to make catch up payments in addition to your usual monthly Direct Debit. This will cover the full payments you would have made and interest that has built up during the payment break period.

What should I consider before applying for a loan payment break?

Before applying for a loan repayment break you should consider that:

The amount of interest you pay over the term of the loan will increase
Your loan term will not be extended and the settlement date will remain the same

When your monthly payments restart, your usual direct debit will recommence and the payment(s) you have missed, along with the accrued interest will be repaid separately. This will mean that you pay more for a period of time.

We will contact you towards the end of your payment break to confirm how you would like to make these additional payments.

Ready to apply?

Before you apply for a loan repayment break, please review our eligibility criteria.

Eligibility criteria

You can apply for a loan repayment break if:

your ability to make your full loan payments is impacted
you have consent from everyone named on the loan

Conditions apply

Let's get started...

Continue

Have you received payment support from us in relation to this loan?

Payment support includes a previous payment break.

Yes

Can you afford to begin or continue making your loan payments?

Yes

Great, now we need you to confirm this

Open the form below to confirm your details and that you will be starting your full monthly loan repayments to include any interest that has continued to build during your loan break.

Restart repayments

What further support would you like?

Extend your loan payment break

Receive a callback to discuss your options

Nearly there...

In order to process your request to extend your loan repayment break, we'll need some further information from you:

Your name
Your date of birth
Your email address
Your phone number
Your loan reference number
Some additional information about your financial circumstances

Apply to extend

We'll need to confirm your details then we will be in touch to discuss your options

At the next stage we'll ask you to provide:

Your full name
Your date of birth
Email address
Contact number

Request a callback

Nearly there...

In order to process your request for a loan repayment break, we'll need some further information from you:

Your name
Your date of birth
Your email address
Your phone number
Your loan reference number
Some additional information about your financial circumstances

Apply