ALMOST 1.2million Brits facing money fears due to the coronavirus outbreak have been given payment holidays on credit cards and loans by their lenders.
Lenders have worked with the Financial Conduct Authority to also offer 27 million customers the option of interest-free borrowing on the first £500 of their overdrafts. Interest will still be charged to personal loan and credit card customers, so make sure you only apply for the holidays if you are facing financial difficulties.
“We would encourage any customers concerned about their financial situation to check with their lender, starting by looking at their website which will have the latest information on the support available.”Most banks are asking people to apply online as they are receiving a high number of phone calls from customers.
Source: News Formal (newsformal.com)
Not here in Australia. Stupid interest rates and late payment fees still in full effect.
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