If you are struggling to make your monthly payments, you can use our support tool to find the right support for you. This can help you to see where your money goes and what you can ask us for support with, including:
- A payment holiday to help you manage your money
- A plan to help you pay off any amount you’re behind by
- Give you the time and space to get some free independent help and advice
- Set up a repayment plan to get you back on track.
Payment holidays are not for everyone. It is important you understand the implications of all options available before you make the decision on what is right for you.
A payment holiday is subject to approval. If accepted, you won’t need to make the usual repayment amount for up to 3 months, this could be a reduced amount or your full monthly payment. You can only take up to 3 months at a time (6 months in total). The amount you owe will go up and you will pay more interest overall.
Please visit our Money Worries page to find out more ways we may be able to help you. Additionally, the Money Advice Service Money Navigator Tool also gives instant help based on what you tell it about your circumstances.
We offer payment holidays on:
Mortgages
During your payment holiday, we’ll still add interest to your mortgage. At the end of the payment holiday, the amount you pay each month will go up, this is to cover the payments and interest charges you’ll miss while you take a break.
Credit cards
If your payment is due now and you can’t make the minimum payment, we won't charge a late payment fee or remove any promotional interest rates in the short term.
Loans
If your loan repayment is due within the next 7 working days, you will still need to make this payment and any repayment holiday you are given will start the following month. If you have a joint loan, any repayment holiday will be given to both of you. If your repayment is due now and you’re unable to make the repayment, we won't charge you a fee.
Explore your options and find out more
There's no need to cancel your direct debit. But if you have, you need to make sure you can start repayments again after the repayment holiday. You can do this by re-instating your direct debit.
Car finance
At the end of the payment holiday we will work out how much extra you need to pay, based on the interest rate shown in your agreement. This means you will pay more as you take longer to pay back the amount you borrowed. We will add this amount to your agreement. To request a payment holiday log into your online car finance account and follow the instructions. Find out more.
Home Insurance
Please contact us on 0345 122 1511 or go to our home insurance page to discuss how we can best help you, for example by offering a payment holiday or reviewing your level of cover.
End of your payment holiday
You may be coming close to the end of your payment holiday period. Remember there is no need to contact us, we’ll be in touch before your current payment holiday ends on how we can help.
If you’re in a position to resume your payments after your break, we strongly recommend that you do so to keep the amount of interest you pay as low as possible. If you are worried about being able to restart your full payments, there are ways we can help you.
Our support tool helps you explore your options at the end of your mortgage, credit card or loan payment holiday.
Find out more about your car finance options
Payment Protection Insurance
If you have Payment Protection Insurance you may be able to claim under your policy if you are unable to work due to sickness or unemployment. Visit our Payment Protection Insurance page for details.
For Channel Islands or Isle of Man customers, please visit our Lloyds Bank Islands page.