Mortgage holidays extended until July 2021 for households struggling due to coronavirus crisis

MORTGAGE holidays for struggling homeowners are being extended until July 2021.

The holidays will be available for any household that hasn't already had a payment deferral.

If you're on a payment holiday at the moment, and it was due to last for fewer than six months, you'll also be allowed to extend it.

The new support was confirmed today by the Financial Conduct Authority.

Sheldon Mills, interim executive director of strategy and competition at the FCA said: "Today we have confirmed further support for borrowers struggling financially as a result of coronavirus.

"The announcement we have made today, ensures that the support offered through payment deferrals is as flexible and accessible as possible.

"This means borrowers will again be able to access payment deferrals up to a maximum of six months.

"However, if you are able to keep paying it will be in your best long-term interest to do so. Payment deferrals should only be taken when absolutely necessary."

More to follow…

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