Since the start of the pandemic, many measures have been put in place to protect consumers who have been affected financially by Covid-19. However, as restrictions ease, so do these protective measures. At the end of July, payment breaks for mortgages, loans, and other credit products will come to an end. This means that the payments deferred will need to be repaid, along with interest that may have been accrued during the break.

If you’ve taken a payment break, your lender should be in touch to discuss what will happen when the deferral period has ended. They should work with you to find the best way to repay the deferred payments; however if you’re still unable to make payments, the FCA has stated that lenders should offer tailored support to customers.

If you’ve taken a payment deferral and want some more information on what this measure ending means for you, speak to one of our advisers via webchat.