Lloyds TSB Repayment Holidays

sparkles.

Hi

I have searched for a thread on this subject but couldn't find one. My partner would like to take a one month 'repayment holiday' from a Lloyds TSB loan to straighten a few other money matters out. I have looked on their website and found this - http://www.lloydstsb.com/loans/repayment_hols_product.asp . He meets all the criteria although the statement - You will also have to meet other conditions before you can take a repayment holiday – we will tell you if you meet these conditions when you call to ask for a repayment holiday seems to be a little bit vauge to say the least! Does anyone have any insight as to what this may be?

Thanks

jonesMUFCforever

Phone the personal loan centre in Peterlee.
Make sure that you leave enough time for them to process your requestor you may have to wait until the next repayment date for the holiday.
I'm sure you know anyway but take care as the interest on your loan will continue to accrue and it will take longer for you to pay off.

mrmajika

I work in the Glasgow lending team at the LTSB call centre.

As far as i'm aware to take a holiday, as another poster has stated, phone the Personal Service Centre to arrange it. You would have to leave at least 10 working days.

You can take upto 2 payment holidays per year but not in consecutive months.

In order to be eligible for a payment holiday you cannot have missed a payment already or be in arrears. I'm pretty sure, but not certain, that you have to be risk band 1 to 3 - which is the risk scale LTSB use.

Also, if you signed up for your loan before payment holidays were introduced then you have to sign and return an updated loan agreement, with the payment holiday terms & conditions included, before you can take the holiday.


Hope this helps.

nuttyrockeress

I was really impressed with the service I receievd when I arrange this - all done and dusted in 2 weeks!