Mortgages: Coronavirus

Treasury written question – answered on 27th May 2020.

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Photo of Nicholas Fletcher Nicholas Fletcher Conservative, Don Valley

To ask the Chancellor of the Exchequer, if he will extend the mortgage holiday beyond September 2020 for people who have been made redundant as a result of the covid-19 outbreak.

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

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

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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