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More than a million credit card payment holidays granted to struggling Brits
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mirror.co.ukMore than a million payment deferrals have been provided on credit cards as lenders help borrowers whose finances have temporarily been hit by the impact of coronavirus.
Lenders have provided 1.05 million temporary payment holidays on credit cards and nearly 707,000 payment deferrals on personal loans, trade association UK Finance said.
More than 27 million accounts also have temporary interest-free £500 arranged overdraft buffers applied to them, if needed. The support for consumer credit borrowers has been put in place by the banking and finance industry and Financial Conduct Authority (FCA) to help people facing temporary financial pressures due to the Covid-19 pandemic.
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