We know that December can be tough on your finances. So to help manage your loan repayment, you can choose to use a payment holiday for any repayments due between 14th and 31st December 2017.
What is the December Payment Holiday?
The December Payment Holiday will, at the point of online application, allow Sunny customers to postpone loan repayments that are due between 14th and 31st December 2017.
How do I apply for the December Payment Holiday?
From 27th September 2017, any Sunny loan that has been approved with a repayment due between the 14th and 31st December 2017 will be eligible to use a Payment Holiday, if you have elected to use the December Payment Holiday when you applied. You’ll be presented with the option to use the December Payment Holiday on the “Review & Sign Agreements” page of the online application. Simply select the December Payment Holiday option, and you will be shown a new repayment schedule. Please note that the December Payment Holiday cannot be requested or applied for at any other stage of your application or after you have been funded.
How does the December Payment Holiday work?
When you apply for a new Sunny loan, you will be given the option to postpone any December payment(s) that fall between the dates of 14th and 31st December 2017.
The length of your loan repayment schedule will change to allow for the December Payment Holiday, but the actual number of repayments you make will remain the same.
Will this affect my repayment schedule?
Yes, and the relevant repayment schedule will be visible on the screen (and in your loan agreement) if you opt to use the December Payment Holiday facility.
Please note you can click on the December Payment Holiday facility to see what your repayments would be. You can then immediately de-select it if you decide not to proceed with the payment holiday option.
Are there any additional costs for using the December Payment Holiday?
If you take the loan over the standard 6 months (or equivalent) period, the total cost of your loan will not change even though you will have longer to repay it.
However, if you elected to repay your loan over a period less than 6 months (or equivalent period), for example, over 3 months, and then selected a payment holiday you will pay more than you would have paid over the 3 months period, but never more than over the 6 months period. Please review your repayment schedule carefully.
As always, you remain free to repay your loan early at any time with Sunny.
Why can’t I use a payment holiday if I’m having difficulty paying?
If you experience or anticipate problems in making your payments on time, please contact our Customer Support Team straight away either by calling 0800 7315 432 or by emailing firstname.lastname@example.org.
At Sunny, we don’t charge you any late fees if you can’t make your payments on time. We’ll do everything we can to help you get back on track, including providing details of how to get free, independent advice.
Why can’t I use the December Payment Holiday for repayments in early December?
We’re offering the December Payment Holiday for the holiday period, when people generally have lots of expenses to juggle.
Can I apply a December Payment Holiday to my current loan(s)?
No, the December Payment Holiday cannot be applied to existing Sunny loans. The Payment Holiday is only available on new loans which have been taken out from 27th September 2017 with a repayment due between the 14th and 31st December 2017.
Who can apply for the December Payment Holiday?
The December Payment Holiday is available to all new and existing Sunny customers who complete a new loan application on or after the 27th September 2017.
Loan amount is subject to status. Terms and conditions apply. Available to UK residents over 18. Approval is subject to credit assessment of your application.
Can I add a payment holiday to my existing loan(s)?
No, the December Payment Holiday cannot be retrospectively applied to existing loans. It can only be applied to new loans taken out from 27th September 2017 with a scheduled repayment due between the dates of 14th and 31st December 2017.
Can I apply over the phone?
No, this feature is only available through our online application process. You can contact our call centre for more information.
I made a loan application between the December Payment Holiday dates but didn’t opt in. Can I apply for it now?
Unfortunately, the December Payment Holiday cannot be added retrospectively after the loan application has been submitted.