App available to customers with compatible iOS and Android devices and a UK or international mobile number in specific countries. Anytime Banking available to customers with an Ulster account.
What to do when your repayment break is coming to an end
Before your repayment break ends, we'll send you details of what you need to do. Your payments will start again on your normal payment date.
Apply for further temporary support
If your income has been temporarily affected by coronavirus and you're still concerned about making your next payment we are here to help.
If your income is still temporarily impacted and you can afford to make reduced monthly loan payments, we are here to help. To do this, you can apply for a further loan repayment break for 3 months and pay into your loan account what you can afford during the break period.
To make a reduced payment you'll need to apply for a further loan repayment break. You can then send payments based on what you can afford during the repayment break.
When you request a further repayment break we'll show you how your missed payments will build over the next 3 months.
Your credit file won't be affected by taking a repayment break, however lenders may take into account other information when making future lending decisions, including, for example, information provided by applicants or bank account information.
This is only an example to outline how missed payments will build on a repayment break, when you make reduced monthly payments.
Normal monthly payments = £150
Reduced monthly loan payment = £50
Missed payment each month = £100
Total missed payments after 3 months = £300
Total missed payments after 6 months = £600
If you can afford to make some or all of your loan payments, it's important that you do so. You can make a payment at any stage to make up for the payments you’ve already missed during your repayment break. These payments will reduce the total amount of interest that you will pay and may reduce the length of your loan.
You won’t be charged an early repayment charge for making up your missed payments, as long as the amount paid doesn’t exceed the payments that you have already missed during your repayment break.
You can make a payment through our mobile app or Anytime Banking. You'll simply need your loan account number and sort code which you can find on your account summary screen. You can then add your loan account as a "new payee".
If you can afford to pay something you should as this will reduce what you owe.
If you want to apply for a further repayment break, Cora your digital assistant can help you sort it. Ask Cora via the 'Need Help' button on the right-hand side of the page and quote 'coronavirus loan' in your message.
If you are unable to make your next payment, you can apply for a new repayment break for 3 months. Even if you can afford a small amount, you should consider making reduced payments to help reduce what you owe.
When you request a further repayment break we'll show you how your missed payments will build over the next 3 months.
Your credit file won't be affected by taking a repayment break, however lenders may take into account other information when making future lending decisions, including, for example, information provided by applicants or bank account information.
Even if you can afford a small amount, you should consider making reduced payments to help reduce what you owe.
This is only an example to outline how missed payments will build on a repayment break, when you don't make any reduced payments.
Normal monthly payments = £150
Reduced monthly loan payment = £0
Missed payment each month = £150
Total missed payments after 3 months = £450
Total missed payments after 6 months = £900
If you want to apply for a further repayment break, Cora your digital assistant can help you sort it. Ask Cora via the 'Need Help' button on the right-hand side of the page and quote 'coronavirus loan' in your message.
If you already know your circumstances are unlikely to improve and you wouldn't be able to start repayments after a further repayment break, please contact us as soon as you can so we can help.
You can call us on 0800 001 5721 or 0345 602 3112 (best for mobiles with inclusive minutes). Open Monday to Friday 9am-5pm.
If you are struggling with your finances, you can get free debt advice. We partner with PayPlan (a third party company), who can offer you free confidential advice for all of your debts.
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If you can't start paying off your loan after your break, a term extension might not be a good idea for you. There are other ways we can help you, depending on whether the changes to your financial situation are temporary or more permanent. You can take a look at your options above.
You need to sign a new agreement to confirm that you accept the extended loan term and you agree to pay the additional interest that you'll build up because you'll have your loan for a longer period of time. You'll keep paying the same interest rate.
