With the new COVID-19 restrictions announced by the government, the FCA has disclosed that mortgage lenders will extend mortgage payment deferrals up to a maximum of 6 months.
With the new rules, mortgage borrowers who haven’t had a payment deferral can request one for up to 6 months. Any borrowers who have already got a payment deferral of less than the maximum 6 months can request to extend that deferral.
The FCA has said that lenders will provide further information after 2nd November with details on how to apply for this support.
Lenders are providing many levels of support to help people through covid.