Payment break loans, sometimes known as payment holiday loans, are usually only offered when you first secure a loan and simply means that you have a period, typically 3-5 months, until your first payment will be requested. For example if you took out a loan on 1st January you would not have to make your initial payment until 1st May on a 3 month payment break loan.  A payment break is available on selected loans, mainly large loans and subject to availability.

Defer Your First Payments!

Many lenders will allow some flexibility within their loan plans and have the option of this deferred payment. Loans with a payment break are great if you have other financial commitments that you would like to clear beforehand or you would simply like a breather before starting your repayments. You should be aware that interest will still be charged during the course of the payment break.

Take Your Loan Payment Holiday Today!

At Loanexplorer we have a range of competitive loans with a payment holiday available on selected personal and secured loans from some of the UK’s top lenders. Whatever your circumstances we try to find a loan plan suitable for your personal requirements. If you would like more information about payment break loans or would like advice on whether a payment break would be an option for you simply complete our online application form for a no obligation quote.