A guide to coronavirus mortgage payment holidays

Mortgage lenders have announced support if your income has been affected by the coronavirus outbreak, including a repayment holiday of up to three months. The deadline for applying for a repayment holiday was 31 October 2020.

Applying for a mortgage payment holiday

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You had until 31 October 2020 to apply for a repayment holiday.

If you have already taken a repayment holiday, it’s important you understand what happens when it comes to an end.What to do when your coronavirus mortgage payment holiday has ended.

If you are already behind with mortgage payments

Being currently behind with your mortgage payments does not exclude you from applying for a mortgage payment holiday if this is appropriate for your circumstances.

If you’re worried about repossession you should not be at risk of losing your home during this period as mortgage repossession proceedings have been temporarily suspended but do speak with your lender.

If you have a mortgage with an unregulated or inactive lender

If you have a mortgage with an unregulated or inactive lender and would not normally fall under the scope of these changes, these providers are also being asked to adopt this guidance and we will provide further information when we know more.Further help and guidance on mortgage payment holidays can be found on the FCA website.

Applying for a payment holiday unrelated to coronavirus

If you are asking for a mortgage payment holiday for a reason unrelated to coronavirus, there are different rules in place, so make sure you talk to your lender and clearly understand any impact before you make a final decision.

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