Borrowers in financial difficulty following the coronavirus pandemic - key findings

We detail our findings from our review of firms’ treatment of borrowers in financial difficulty after the pandemic. We include areas all firms must improve on.

Read our findings (PDF)

Who this will be of interest to

  • mortgage lenders and administrators 
  • smaller deposit taking lenders 
  • non-bank mortgage lenders 
  • credit card and loan providers 
  • high-cost credit firms 
  • motor finance firms 
  • Retail finance firms 
  • consumer interest groups


This report and the Tailored Support guidance (TSG) are relevant to the treatment of all borrowers in financial difficulty at any time, including those impacted by the cost of living rises.

To improve outcomes for borrowers in financial difficulty, lenders need to focus on issues in these areas:

  • engaging with customers  
  • effectiveness of conversations with customers  
  • helping customers to consider and access money advice and not for profit debt advice  
  • fees and charges 

To help firms consider how to approach these issues, we’ve included examples of good and poor practice, along with supporting case studies.

We also outline how we intend to continue to monitor and assess the way in which firms are supporting borrowers in financial difficulty given the rise in the cost of living. 


This report draws on the workstreams in our Borrowers in Financial Difficulty (BiFD) project. The project’s aim is to ensure firms are meeting the expectations we set out in the Tailed Support Guidance (TSG) and that they are providing tailored support to customers who are in financial difficulty following the coronavirus (Covid-19) pandemic.

Next steps 

We want firms to consider the contents of this report and take immediate action where necessary to ensure that firms are well placed to support customers now, and as the situation becomes more challenging in the months ahead.

We intend to continue to monitor data to assess how firms are considering and delivering forbearance. Where necessary, we will use our supervisory and enforcement powers to ensure that customers are protected from poorly performing firms. In some cases, we will also consider asking firms to stop lending where we see that they are delivering poor customer outcomes.   

We plan to consult on the future of the Tailored Support Guidance, and that may include proposals to make changes to our Handbook.