Loan repayment holidays

If things aren’t going to plan, a bit of financial flexibility can really help. We could give you some time out from your loan through a repayment holiday.

Repayment holidays are subject to approval. If you decide to take a repayment holiday, interest will continue to be charged and the length of your loan will increase, meaning you’ll pay more interest overall.

You can request up to two non-consecutive one-month repayment holidays every rolling 12-month period.

How to take a loan repayment holiday

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
  • not be in the process of making a loan protection insurance claim
  • have at least 30 days remaining on your loan term
  • other factors may also be taken into account

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

Taking a repayment holiday will extend the length of your loan and we will continue to charge you interest on your outstanding loan balance. We will advise you of the additional interest that will apply when you call.

Interest will be charged if you take a break from your repayment or defer your payments, so you will pay more interest overall. Repayment holidays are available if you meet certain conditions and are subject to our approval.


How to apply for a repayment holiday

If you’d like to apply for a one month repayment holiday, the quickest and easiest way is via internet banking. This way you will receive an instant decision and you can also check your eligibility before you apply. Or you can also call us on 0345 835 3861 or visit us in branch.

  • Log into internet banking
  • Select your loan from the ‘Your accounts’ screen
  • Click on the repayment holiday tab 

From 31st July 2021, COVID-19 extended repayment holidays are no longer available.

If you’ve already taken a total of two repayment holidays in the last 12 months, and 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.

Please visit our Money Confidence page where our experts answer your big questions to help you become more confident with your money every day.

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