Barclays offers support to customers facing financial hardship

Jake Carter

March 18, 2020

Barclays has announced it will offer support to customers facing financial difficulty in light of coronavirus.

The lender will be allowing mortgage customers who have been financially impacted by COVID-19 repayment holidays of up to three months.

It will also consider switching residential mortgage customers from capital repayment to interest-only for up to 12 months.

Additionally, the bank has other measures in place including temporary breathing space holds, term extensions and repayment plans for both the short and long term.

A Barclays spokesperson said: “As a responsible lender, it is crucial that we offer the right support to our customers at this time.

“We have therefore decided to offer customers who are potentially facing financial difficulty, a number of options to support them through this time.

“These include repayment holidays for up to 90 days and switching from Capital Repayment to Interest Only for up to 12 months. We encourage customers to get in contact with us at the earliest opportunity to discuss the most suitable solution.”

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