Supporting our customers and clients impacted by coronavirus (COVID-19)

Repayment holidays: 

• The application window for residential and commercial mortgage customers impacted by COVID-19 to apply for payment holidays is extended until October 31st. 
• Three-month repayment holidays are available for impacted customers with credit cards and loans
• As customers payment holiday terms come to an end, we want to support as many customers as possible back to normality. We will contact all customers in advance of their exit date, including the options available for further support depending on their individual circumstances

A repayment holiday isn’t the only way customers impacted by COVID-19 can benefit from support:

• Mortgages – Residential mortgage customers can switch from ‘capital repayment’ to ‘interest only’ for up to 12 months, while personal mortgage customers may be eligible to extend their mortgage offers by up to 6 months if their purchase has been delayed by coronavirus
• Cards and loans – Temporary credit limit increases for customers facing financial hardship
• Overdrafts – From 1st May until 9th July (inc) we have put in place a temporary interest free buffer of £750 on all arranged overdrafts and a temporary interest rate of 19.51% EA
• Savings – Potential to remove penalty charges for impacted customers accessing fixed rate savings early and increased the withdrawal access for customers holding Flexible Bonds and Flexible Cash ISAs until 30th October 2020
  
  

• Prioritising our NHS workers in our branches and via telephone banking 
• Proactive outbound contact via calls, SMS, email and letter to our potentially vulnerable customers and call prioritisation for our elderly and regular branch users
• Isolated and shielding customers can benefit from our at-home secure cash delivery service, and our ‘Volunteer Shopping Device’ to allow trusted third-parties to shop on their behalf
• Over 80% of our physical branch network is open, with social distancing and protective measures in place
  
  

• We are making a £2m donation to support additional debt advice support in the UK. 
• Our Digital Eagles have pledged to deliver training sessions to 500 care homes across the UK in 2020. The virtual training is designed to give care home residents and staff the confidence to use technology to stay connect to local GP practices virtually, as well as their loved ones. Find out more. 
• LifeSkills has provided resources to assist educators with remote teaching and parents with home schooling, advice on adult reskilling and launched two new dedicated hubs for families and SMEs
• iPads are being donated to local councils, charitable organisations and NHS trusts to provide those in need with the technology to stay connected to loved ones
  
  

To relieve some of the financial pressure on smaller businesses, we’re giving free everyday business banking and won’t charge interest on overdrafts between 13 March and 12 June 2020¹. This applies to all new and existing customers with an annual turnover of up to £250k. 

This is available to UK businesses that have been negatively affected by coronavirus. Loans between £2,000 and £50,000 can be applied for, subject to the eligibility criteria.

The loan term is six years, but the loan can be paid back sooner with no early repayment charge.

The UK government will guarantee 100% of the loan and there won’t be any fees or interest to pay for the first 12 months.

Barclays has an existing £14 billion lending fund which was launched in 2019 as part of a three-year commitment to help SMEs build resilience during uncertain times.

A 12-month capital repayment holiday are available on existing loans over £25,000

An increase to, or new, overdraft facilities are being issued

We’ve launched a helpline for all our Business Banking customers impacted by the coronavirus outbreak.

The UK Government-backed scheme provides eligible businesses with lending of up to £5 million and the Government will cover the first 12 months of interest payments. We do not take personal guarantees on any CBILS loans.

This is available to support corporates who would normally seek market-based finance for their working capital. The facility stands ready to support unlimited financing to eligible companies.

The Coronavirus Large Business Interruption Loan Scheme (CLBILS) launched on 20th April 2020 with loans of up to £25m million for businesses with turnover between £45m and £250m, and up to £50m for those with turnover over £250m, 80% guaranteed by the UK Government. CLBILs has no upper turnover limit.

A Coronavirus Job Retention Scheme whereby those who might otherwise have been laid off due to the Covid-19 outbreak can be kept on thanks to the Government reimbursing 80% of an employees’ wages up to a maximum of £2,500 per month.

A number of measures are now available to support international clients and customers. These include streamlined access to Barclays Trade Loan solution, enabling payments to your supplier base to be tailored to your trade cycle.

We have also introduced a simplified process for requests to extend existing trade loan facilities and enabled bespoke solutions for submission of Trade related documentation, like guarantee applications, to support clients working from home.