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What we're doing
Our leadership team are closely monitoring the guidance provided by the UK Government, making key decisions which will enable us to continue to deliver ongoing service and support for our customers and a safe environment for our employees. We are currently awaiting finalised guidance that relates to the November lockdown situation.
- We understand that you may be concerned about how the Coronavirus will affect you financially. Your financial wellbeing is our priority.
- If you are facing financial difficulties and would like to discuss your account, please contact your local branch.
- Our teams are available to help, we are receiving more calls than normal in these unprecedented times, so please email us instead of calling if your query isn’t urgent.
- If you have been impacted by the coronavirus outbreak or believe you may be in the future and are worried about making your loan repayment, please get in touch with us as there are a number of ways in which we can help. This may include offering a payment deferral or, if that is not the most appropriate solution, we could arrange for a reduction to your normal monthly commitment.
- If you have already had a payment deferral and have resumed payments, you will not be eligible for a further payment deferral under the same terms as before. However, we are committed to producing tailored, individual support to pay for all of our customers who have been financially affected by coronavirus, so please don’t hesitate to contact us.
- To ensure you receive the most appropriate solution, we will assess your current situation. This will include how you are or could be impacted by coronavirus and how this has temporarily impacted the ability to repay your loan. As an example, if you’ve lost your job or you’re having to work less hours, we can tailor the best solution for you.
- A payment deferral will give you the chance to pause repayments without impacting your credit rating, but will mean it takes you longer to repay your loan. This won’t affect your credit file for the period of the payment deferral. Please note that lenders may take into account other information when making future lending decisions, including information provided by you or bank account information.
- During the deferral period, we’ll contact you about your options for making up the deferred repayments if appropriate at that time. The deferral is based on you resuming your contractual payments and is likely to mean we’ll extend the loan term. This will mean it will take you longer to repay your loan, but this doesn’t have any effect on your ability to make additional repayments to clear your loan quicker or settle your account early.
- If we have already spoken with you and your account is currently on hold for an initial 3 month period, we may be able to provide an extension. We’ll need to assess your situation to ensure the extended deferral is the right solution for you.
- The extension will be granted on the same basis as the original payment deferral, so it won’t affect your credit rating but is likely to mean your loan term will be extended. Depending on your circumstances, it might be possible for us to arrange a period of reduced payments, if this is a better solution for you.
- This won’t change the terms of your agreement with us, so we’ll still need to send you notices about the delayed repayments when we’re legally required to. You won’t need to do anything in response to these notices as long as you don’t miss any repayments outside of this deferral.
- We are now able to accept applications for new customers, we have amended our lending criteria, please view our application form here
- If your application is currently going through our underwriting process, we will continue to progress it. If you have any queries regarding your application, please contact your local branch