Which? responds to latest UK Finance figures on payment holidays

Gareth Shaw, Head of Money at Which?, said:

“The huge number of payment holidays taken highlights the scale of the financial pressure people in this country are facing, and while this immediate help is welcome, the regulator and industry must ensure that customers who struggle once this relief comes to an end are given the support they need.

“Consumers should also think very carefully before taking a payment holiday as it will likely increase the overall amount of money they will need to repay – so people should try and continue making payments as normal if they possibly can.”