Loan repayment holidays

A repayment holiday gives you the flexibility to take a break from your monthly loan repayments. Which could help with unexpected costs, like if your car breaks down or your boiler needs to be repaired.

You could apply for two, one month loan repayment holidays every 12 months. These holidays can't be back to back.

Are you eligible for a loan repayment holiday?

Repayment holidays are subject to approval. Before you request a repayment holiday you will need to:

Have made at least one repayment, and have a Direct Debit in place.
Be up to date with your loan repayments, or have missed no more than one payment.
Have at least 30 days remaining on your loan term.

Please note that interest will be charged if you take a break from your repayments or defer your payments, so you will pay more interest overall.

We pride ourselves on being a responsible lender

Repayment holidays are not intended to solve long-term money troubles, so if you're struggling to make your monthly repayments we have a range of options that may be able to help you. Contact one of our partners and we’ll happily discuss the options with you.

Things to think about

Repayment holidays are not intended to solve long-term money troubles.

If you’ve already taken two repayment holidays in the last 12 months and/or you're struggling to make your monthly repayments, we’re here to help. Please get in contact with us by visiting our Managing Debt support page.

Interest will still be charged if you take a break from your repayments and the length of your loan will extend, so you may pay more interest overall. We’ll tell you what the additional interest will be when you apply.

How to take a loan repayment holiday

If you’d like to apply for a one month repayment holiday, the quickest and easiest way is through Internet Banking. This way you will receive an instant decision and you can also check your eligibility before you apply.