Business Finance FAQsGo back
Asset Finance Coronavirus FAQ's
What if my payment holiday is coming to an end?
If you can afford to make repayments you should continue to do so, but we understand that Coronavirus (Covid-19) has impacted people differently and your circumstances may have changed.
If you believe your financial situation is only temporary and you expect to be able to resume your payments soon, you can request one of the following options:
- Reduced payments for up to 6 months.
- Payment holiday extension for up to 3 months.
Deferred payments can be added to the end of the Agreement term or their value spread over the remaining term of the Agreement.
Please remember that reduced payments or a payment holiday extension will have an impact on your Agreement, so please consider the following:
- You will need to resume payments at the end of the period
- You will have to pay additional interest, which means the total amount you pay will increase
- The term of your agreement and the number of repayments may increase
We will confirm the amount of additional interest and the number of additional payments to you in writing – and you will have a chance to change your mind.