Mortgage payment holidays introduced in March as part of the Coronavirus support measures is to be extended for a further three months. The measures previously introduced allowed homeowners struggling financially due to coronavirus to defer mortgage payments for 3 months and were due to come to an end in June.
Those currently with arrangements in place, will be contacted by their lender directly to discuss the different options available for them going forward.
The application period for homeowners to apply for a mortgage payment holiday has also been extended until 31 October, so that those that have not yet had a mortgage payment holiday and are experiencing financial difficulty will be able to request one.
The current ban on repossession of homes will be continued to 31 October 2020.