This guidance applies in the exceptional circumstances arising out of the coronavirus pandemic (Covid-19) and its impact on the financial situation of personal loans customers.
On 19 November, we published updated guidance[1] for firms on personal loans and coronavirus related to the provision of payment deferrals, which replaces this with effect from 25 November 2020.
Read Personal loans and coronavirus: updated temporary guidance for firms (PDF)[2]
On 9 April 2020, we published guidance setting out our expectation that firms should provide, for a temporary period only, exceptional and immediate support to consumers facing payment difficulties due to circumstances arising out of coronavirus.
Following a short period for comments, we have finalised our revised guidance which will provide continued support for users of personal loans products.
We are proposing to disapply some rules[3] in order to give effect to this guidance.