We have now written to all customers who are affected by this interest rate change. Our letter confirms both the date when the new interest rate will apply and the specific impact on your monthly payments.
If you have been sent a letter, it is important that you make your new monthly payment in full and on time to prevent your account falling into arrears, as this could adversely affect your credit file and could also mean you incur additional fees and charges.
If your payment is made by online transfer, cheque, branch or phone, please make a note of your new monthly payment and pay this amount from the next payment due date after your rate changes (i.e. after the date specified in the letter we sent to you).
If you pay by Standing Order and need to contact your bank or building society to change your monthly payment amount, remember to give up to 4 working days’ notice for this change to be made. If your monthly payment has reduced and you do not change your Standing Order amount, you will start overpaying.
If you pay by Direct Debit your monthly payment will change automatically. We will collect the new monthly payment amount from the date specified in the letter sent to you, so you do not need to take any further action.
If you currently pay by another method but would prefer the convenience and security of paying by Direct Debit, please see here for more information.