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Loan repayment deferrals: next steps

Managing your upcoming loan repayments

If you don’t think you’re going to be able to meet your upcoming repayments when your loan repayment deferral ends, it’s important to take action as soon as possible.

We have a range of options to support you, depending on your circumstances.

We’ll need you to provide information about your current financial situation. This will include filling out an Income and expenditure form. It’s a series of questions about your income and outgoings (such as salary and mortgage payments/rent) to help us assess your circumstances.

This will enable us to work with you to determine a way forward. It should take about 10-15 minutes to complete. Filling it out won't impact your credit file.

Who should fill out an Income and expenditure form?

You should complete this form if you’ll be unable to make your repayments once your loan repayment deferral ends.

Joint account holders: please note, you’ll need to complete the partner income section of the form. You only need to complete one form between you – rather than one per named account holder.

Please complete this form as soon as possible to ensure we can assess your circumstances and get in touch to explain your options before your next repayment is due.

Completing the form

You’ll need to:

  • provide basic information about yourself and your current employment status
  • detail your current monthly income and expenditure information. If you have a joint debt with another HSBC customer, you’ll also have to provide their income and details of any shared household bills
  • be as precise as you can so we get an accurate view of your current financial position

If you’re signed up to Open Banking, you can save time by selecting to have information from your bank statements and bills pre-populated. If you use mobile banking, this process is best completed on your smartphone.

We’ll summarise the information you’ve provided before you submit the form. At this stage you’ll be able to edit the information again if you wish to change something. 

You’ll only need to do this once, even if you hold multiple products with HSBC.

If you’re signed up to Open Banking, you can save time by selecting to have information from your bank statements and bills pre-populated. If you use mobile banking, this process is best completed on your smartphone.

What happens next?

Once you’ve submitted the information, we’ll contact you about the options we have available to support you within 5 working days. There’s no need to contact us, we’ll keep you informed every step of the way.

Frequently asked Questions

It’s easy to get in touch online. Talk to us directly through our chat channels.