Treasury also extends ban on home repossessions to 31 October amid Covid-19 crisis
The government has extended its mortgage payment holiday scheme by three months.
More than 1.8 million homeowners have taken a three-month mortgage holiday since the scheme was announced in March to help borrowers in financial difficulty because of the coronavirus crisis, according to Treasury figures. It was due to expire at the end of June but has now been extended by a further three months, while the deadline for applying for an extension has been shifted to 31 October.
“We’re doing everything we can to help people with their finances at this difficult time and that includes making sure people get the support they need with their mortgages,” said John Glen, the economic secretary to the Treasury. “That’s why we’re working with the banks and lenders to extend payment holidays if people need them.”
The government said that while homeowners who had taken a mortgage holiday should restart marking payments if they could, it was extending the scheme to help those still struggling with the impact of the coronavirus.
“Everyone’s circumstances will be different, so when homeowners can pay some or all of their mortgage, they should work with their lender on a plan,” Glen said. “But if they are still struggling, I want them to know that help is there.”
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