Swindon      01793 524444

Your Local Independent Specialist Insurance, Mortgage and Commercial Finance Advisors

FCA extends mortgage payment deferrals to 6 months

Tags: ,

The FCA has announced that lenders will extend the provision of mortgage payment deferrals of up to a maximum of six months in the light of the tightened Covid-19 restrictions announced by the Prime Minister over the weekend.

Under the amendments, mortgage borrowers who have not yet had a payment deferral can request one for up to six months and borrowers who already have a payment deferral for a period of less than six months would be able to extend that deferral.

In its statement, the FCA said said customers seeking to access this support do not need to contact their lenders yet. Lenders will provide information after 2nd November on how to apply for this support.

Posted by MMB Finance Swindon on 9 November 2020