Support for borrowers in financial difficulties

How we can support your financial well-being

There may come a time when you are having difficulty or anticipate struggling with making any upcoming loan payments. If that should happen, we encourage you to contact your Relationship Manager or Credit Specialist as soon as possible.

Speaking to us will not affect your credit file, but missed or late payments may make it harder for you to borrow in the future.

Options we may consider to help improve your situation

• Extending the loan term
• Changing the loan type (e.g. switching from capital repayment to interest-only)
• Arranging a repayment plan that gives you a reasonable timeframe to repay the debt
• Transferring the debt to an alternative credit arrangement (refinancing)
• Allowing for no payments, reduced payments or token payments for a reasonable, specified period (e.g. restructuring amortisation payments)

These are some of the potential options we offer, but their availability and suitability depend on the specific circumstances of each borrower and their loans.

Contacting us as soon as possible will allow us to better understand your unique situation, discuss your options and provide appropriate support.

Other support available to you

Several organisations offer free, confidential and independent advice on borrowing and debt that you can access online or by phone. They may be able to provide support and help you navigate any financial challenges.

• Citizens Advice
• MoneyHelper
• National Debtline
• AdviceUK
• StepChange Debt Charity