Coronavirus: help and guidance if you have a loan with us

The impact of coronavirus is increasingly being felt across the UK and we know that many of you are concerned about the impact this may have on your finances. We understand that this is a worrying time, and want to offer our help and support.

Here is some information for our customers:

If you have a loan

You can sign in to your account as normal to view information about your loan.

We’re following the guidelines set out by the government and as a result our teams are working from home. This is working effectively and our team is available to help you as normal. As always, our aim is to provide our customers with help and support as you require it.

As this is an unsettling time for many, our team has been experiencing higher than usual contact and our response times may be slightly longer than normal. We apologise for this and hope that you can appreciate that this is because we are trying to help as many people as possible with their questions or concerns. We will get back to you as quickly as we are able to.

 

Concerned about your repayments?

If you are worried about your upcoming repayments, we are here to help you. We may need to understand a little more about your situation to be able to suggest the best possible solution, but rest assured that our priority is ensuring that you feel in control and that the process is as stress-free as possible. 

From 1 April 2021, if you currently have a payment holiday in place on your loan and the duration of this has been less than 6 months you may apply for an extension if you feel you will not be able to resume your regular repayments. We will contact you ahead of your regular repayments resuming to let you know what your options are so please look out for this email. Alternatively, you can get in touch with us to request an extension using this form (please enter your employer and select “I’m worried about Coronavirus”, then scroll to the “Get In Touch” button at the bottom of the page). 

If you have already taken a payment holiday lasting 6 months, or you have not taken a payment holiday but are concerned about making your regular repayments, we will offer you tailored support based on your current circumstances. Please get in touch with us as soon as possible if you have concerns about your repayments. We will come back to you within two working days to discuss the next steps with you. 

The most important thing is to let us know that you are worried about your repayments so we can work with you to agree a way forward. 

 

Does a payment holiday affect my credit rating?

Taking a payment holiday will not negatively impact your credit file. However lenders may take into account other information when making future lending decisions. 

If you resume your repayments at the end of your payment holiday your credit file will not have been affected. 

If you’re not able to resume repayments, we’ll explain any potential impact on your credit file when we talk to you about the tailored support we can offer you based on your circumstances.

 

Helpful resources

If you feel that you need more general help and support with your finances during this time, here are some details of organisations that offer free and impartial advice:

Citizens Advice: 03444 111 444. 9am to 5pm, Monday to Friday.

StepChange: 0800 138 1111. Monday to Friday 8am to 8pm, Saturday 8am to 4pm.

PayPlan: 0800 280 2816. Mon to Fri 8am–8pm Sat 9am–3pm

The Money Advice Service also offers some general guidance here. 

And finally, Gov.UK has information on employment and financial support:
https://www.gov.uk/coronavirus