UK lenders offer more credit card, loan repayment freezes
Reuters
Published May 29, 2020 10:23
LONDON (Reuters) - British banks and other lenders have given nearly 1.5 million repayment holidays to borrowers hit by the coronavirus shutdown, an increase of more than a quarter since the start of May, an industry group said on Friday.
As of May 21, 877,800 credit cards accounts had been given a payment freeze, up 26% from May 1, and 608,000 holidays were granted on personal loans, up 30%, UK Finance said.
The group said last week that lenders had approved 1.8 million mortgage payment holidays.
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Written By: Reuters
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