Customers in Financial Difficulty

How we might be able to help you

We can consider a range of different options based on the type of product you have and what type of support you might need. Some of the options we can consider are:

Mortgages

• A partial payment deferral, where you make reduced payments of a specific amount for an agreed period of time.
• A full payment deferral, where you make no repayments for an agreed period of time. As a full payment deferral is the most expensive option we will only provide this option in certain circumstances where it is appropriate.
• Reviewing your existing mortgage product or term to make sure it still suits your current circumstances.

It’s important you know that some of the above options are likely to increase your mortgage balance, your interest and the total amount you have to repay.

Personal Loans and Credit Cards

• Consolidating your existing commitments into one affordable monthly payment, subject to our normal checks.
• Considering a payment plan on your account, based on your individual circumstances.

It’s important you know that some of the above options are likely to increase your overall balance, interest and the total amount you have to repay.

Overdrafts

• Consolidating your existing commitments into one affordable monthly payment, subject to our normal checks.
• Arranging a suitable repayment plan with you, to help you reduce down your overdraft balance over an agreed period of time.
• Considering whether the cost of your account is appropriate based on your current circumstances.

We can also give you a period of breathing space, to allow you some time to consider your options and speak to free, impartial debt advice.

If you do arrange support on your repayments, this may be reported on your credit file and may impact your credit rating, which is also sometimes referred to as your credit score. This may impact your ability to obtain credit in the future. Your credit file is used by firms to make lending decisions, along with other sources of information, for example your bank account statements.

Repeat Use Overdrafts

If you are regularly using your overdraft at the minute, we may reach out to you to make sure that your bank account still meets your needs. Repeat usage of your overdraft may mean you are paying recurring costs each month, which may mean it is harder to pay back your overdraft over time. To understand the costs you may currently be paying, please visit our online Cost Calculator.

If you feel that you need to speak to someone about your overdraft usage, please contact us as soon as possible and we will consider a range of options to support you based on your individual circumstances.

Other things to consider

It is important that you keep to the payment plan we agree with you, or tell us if there is a change in your circumstances which may affect the arrangement. If you do not make the agreed payments, we might have to resort to legal action to get back any money you owe us. This could include taking legal action to repossess your property.

Check whether you can get any state benefits or tax credits which could help to increase your income.

If you have a payment protection or income protection policy you should check whether it would help with your payments.

Talk to a professional adviser, such as a debt counsellor or a lawyer, before you commit to any repayment plan so that you understand what you are agreeing to. We strongly advise that you seek independent, free, debt advice.

Costs and Expenses

If you are in arrears, we may charge you for reasonable costs and expenses. Please see our Fees and Service Charges Explained leaflet for further details.

How to complain

We are committed to providing a high standard of customer service. If you are not satisfied with any part of our service, we have procedures in place to deal with your concerns effectively and in the correct way. However if, having followed our published complaint procedures, you disagree with the final decision we have made, you can refer the matter to the Financial Ombudsman Service. Details are available from us on request or from www.financial-ombudsman.org.uk.