Mortgage payment holidays will no longer end on 31 October 2020.
Borrowers who have been impacted by the coronavirus restrictions can apply for extended payment holidays. For individuals who have not yet had a mortgage payment holiday they will be entitled to a six-month holiday starting in November 2020.
For individuals who have already started a mortgage payment holiday they will be entitled to increase the current arrangement to up to six months without this being recorded on their credit file.
Further information is expected from the FCA next week.
We are here to help so if you wish to discuss any aspects of the above then please contact us.