Britain extends help to coronavirus-hit borrowers

LONDON: Britain's financial watchdog on Monday extended payment holidays on credit cards, car finance, personal loans and pawned goods ahead of tougher coronavirus restrictions later this week.

Consumers who have not yet had a payment deferral under guidance issued in July can request one that lasts for up to six months, the Financial Conduct Authority said in a statement. For high-cost short term credit like payday loans, consumers could apply for a payment deferral of one month if they have not already had one, the FCA said.