COVID-19 Barclayloan payment holiday scheme
Barclayloan payment holiday scheme
For Barclays customers within Jersey, Guernsey and Isle of Man
We understand the coronavirus pandemic could have affected your income. We’re offering payment holidays on Barclayloans to help if you’re in this position.
A payment holiday is a temporary break from your Barclayloan payments to help you get through financial difficulties caused by the coronavirus situation. You can request a payment holiday of 3 months.
You need to remember that:
- A payment holiday is only applicable if your income has been impacted directly or indirectly by COVID-19.
- When the payment holiday period ends, your standard monthly payments resume.
- The term of your Barclayloan will increase by 3 months to give you time to repay the loan.
- Taking a payment holiday will not affect your credit reference scoring.
Please note, this form is only for clients with Barclayloans in the Channel Islands or Isle of Man. This option is available until 31 October 2020.
If you have a UK Barclayloan with Barclays UK PLC please visit our UK site.
How will Barclays implement measures to assist customers?
We’re offering a number of ways to support customers who have been financially affected by the coronavirus. Payment holidays for Barclayloans is one of the options that may be available to support you. For other support resulting from the coronavirus situation, please visit our Coronavirus information page.
What is a payment holiday?
A payment holiday allows you to take a break from making your contractual monthly Barclayloan payments for three months.
Am I eligible for a Barclayloan payment holiday?
We are offering payment holidays to all Barclayloan customers who are experiencing financial difficulties as a result of the coronavirus situation.
If you’re experiencing longer-term financial difficulties (including if you’re already in arrears), we will need to review your circumstances on a case by case basis to ensure the payment holiday is appropriate for your needs.
What if I’ve already missed a payment?
Don’t worry if you’ve already missed a payment because of the coronavirus outbreak- we’re working out how we can help. We’ll keep updating this page with more information as it becomes available.
Will I be charged interest on my Barclayloan while the payment holiday is in place?
Yes we’ll continue charging interest on your Barclayloan and on the deferred payments during the payment holiday. We won’t increase your monthly payment amount to include this interest when your payments restart though, so there’ll be an outstanding balance at the end of the loan that you’ll need to pay. You can pay back this interest whenever you like though- you don’t have to wait until the end of your loan term.
Does a payment holiday affect my credit score?
Arranging a payment holiday will not impact your credit score.
How will this affect my Barclayloan payment when the payment holiday ends?
The deferred payments move to the end of your loan, so we extend the loan term by three months. At the end of the holiday period, your standard monthly payments resume.
Will I have to prove that I am suffering financial difficulty due to coronavirus?
We won’t ask you to provide evidence, but we may need to work through your individual circumstances to find the most appropriate way to support you.
When will my repayments stop and begin again?
If we agree to a payment holiday, we’ll do our best to start it in time for your next Barclayloan payment. However, if your next payment is due soon, we might have to start the payment holiday from the following month. We’ll confirm everything when we get back to you.
If you pay by Direct Debit, don’t cancel it with your bank- we’ll stop collecting your payments when the payment holiday begins. If you pay by another method, you’ll need to stop the payments and make sure they begin again when the payment holiday ends.
Can I choose to begin a payment holiday from a specific date?
If we agree to a payment holiday, we’ll do our best to start it from your next Barclayloan payment. If you want your payment holiday to start at a later time, don’t request it now- please come back when you’re ready. If your payment’s due in the next seven days, the payment will have already been requested and we won’t be able to stop it.
Can I end the payment holiday early?
If you decide to begin repayments prior to the end of the 3-month payment holiday, please contact us.
How do I ask for a payment holiday if I have more than one Barclayloan?
If you have more than one Barclayloan, you’ll need to complete this form for each one separately.
I’d like to increase, or top up my existing loan – is this possible?
Any loan top-up would be subject to eligibility and a new application. You can apply in your local branch.
How do I apply for a Barclayloan payment holiday?
The quickest and easiest way is to fill in our online form using the button below. We’ll confirm if your payment holiday request has been accepted within five to seven working days.