Santander and Lloyds announce support plans

Jake Carter

March 18, 2020

Santander Bank and Lloyds Bank have both announced their support plans for customers suffering financial hardship due to the coronavirus.

Santander has outlined that it is fully supportive of the industry three-month payment holiday to assist customers that have been impacted by COVID-19.

Lloyds has said it is making some temporary changes over the coming weeks, and will be providing individual support to customers who need extra help.

It highlights that it will not charge fees for missed payments on credit cards, loans and mortgages.

Additionally, Lloyds is in support of payment holidays on mortgages and loans.

A spokesperson for Santander Bank said: “Customers who know that they will be unable to make a mortgage payment within the next 30 days should contact us now to discuss their options.”

A spokesperson for Lloyds Bank added: “Being there for our customers when they need us is our priority.

“[We will offer] payment holidays on mortgages and loans with additional support provided where customers need it

“An agreed payment holiday won’t impact credit file because a payment is not expected that month.”

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