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Mortgages: Coronavirus

Treasury written question – answered on 22nd May 2020.

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Photo of Rachael Maskell Rachael Maskell Shadow Minister (Digital, Culture, Media and Sport)

To ask the Chancellor of the Exchequer, what discussions he has had with representatives of mortgage lenders on extending mortgage payment holidays in line with the term of the Coronavirus Job Retention Scheme during the covid-19 outbreak.

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

The government is working 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.

On 22 May we announced that lenders will continue to show forbearance to borrowers that need it, this includes the option for them to apply for a mortgage payment holiday up until the 31 October, in line with the Coronavirus Job Retention Scheme (CJRS).

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