03/11/2020
MORTGAGE PAYMENT HOLIDAYS
see below, speak to us if unsure!!!!
Mortgage payment holidays will be extended, but beware!
The announcement has come as a result of the prime minister's lockdown measures and are intended for anyone in financial distress
“It is important that mortgage borrowers who can afford to do so continue to make repayments. Borrowers should only take up this support if they need it,” the FCA said.
There are however, caveats to the availability of the mortgage payment holidays to borrowers:
* Anyone who's not taken a payment holiday will be able to do so for a 6 month period
*Anyone who have already taken a 3 month payment holiday will be able to take a further ONE
* Anyone who has already used a full six-month payment holiday must seek support from their lender.
https://www.mortgagesolutions.co.uk/news/2020/11/02/mortgage-payment-holiday-window-extended-for-six-months/?utm_source=customsell&utm_medium=email&utm_campaign=ms-sp07-mortgage-brain-1604315824
Please think twice about taking a payment holiday. Our advice along side the FCA's is to take them as a last resort and only if you are in
Rules allowing borrowers in financial distress because of the coronavirus crisis to take a mortgage payment holiday will be extended for a further six months, the Financial Conduct Authority (FCA) has announced.