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Mortgages: Coronavirus

Treasury written question – answered on 19th May 2020.

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Photo of Rushanara Ali Rushanara Ali Labour, Bethnal Green and Bow

To ask the Chancellor of the Exchequer, whether the Government plans to extend the mortgage holiday period for people who have recently been made redundant or who are unemployed as a result of the covid-9 outbreak.

Photo of John Glen John Glen Minister of State (Treasury) (City), The Economic Secretary to the Treasury

We are continuing to work closely with lenders and the Financial Conduct Authority (FCA) to ensure that people are supported during these challenging times, especially if they are facing financial distress.

Lenders are continuing to show forbearance as required, working together with borrowers to establish how they can best affordably and gradually get back on track. Customers who are concerned about their current financial situation should get in touch with their lender at the earliest possible opportunity. 

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