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Are people in the UK who are struggling with mortgage repayments due to covid related issues, treated the same as people who are in a similar position but paying rent ?
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//At the start of the pandemic in March, the Financial Conduct Authority published guidance setting out their expectation that firms offer mortgage payment holidays. Mortgage holidays allow customers affected by coronavirus to defer making up to 6 monthly mortgage payments (although interest will still accrue during this period)...//
//Alongside this, the FCA and government have been in close contact with mortgage lenders and administrators to make sure they treat consumers fairly during the coronavirus pandemic.
Further measures agreed with lenders include:
providing consumers with options when their payment holiday comes to an end to ensure they continue to get support they need
not repossessing homes before 31 January 2021, except in exceptional circumstances...//
//At the start of the pandemic in March, the Financial Conduct Authority published guidance setting out their expectation that firms offer mortgage payment holidays. Mortgage holidays allow customers affected by coronavirus to defer making up to 6 monthly mortgage payments (although interest will still accrue during this period)...//
//Alongside this, the FCA and government have been in close contact with mortgage lenders and administrators to make sure they treat consumers fairly during the coronavirus pandemic.
Further measures agreed with lenders include:
providing consumers with options when their payment holiday comes to an end to ensure they continue to get support they need
not repossessing homes before 31 January 2021, except in exceptional circumstances...//
//Bob...and at the end of a mortgage holiday your payments will go up.//
Yes. Stands to reason. Its a postponement, that was allways clear but still valuable to some..
Same with rent- they couldnt throw you out but unless you can negotiate a reduction your payments would evntualy afer go up to cove rthe delayed or part payments
Yes. Stands to reason. Its a postponement, that was allways clear but still valuable to some..
Same with rent- they couldnt throw you out but unless you can negotiate a reduction your payments would evntualy afer go up to cove rthe delayed or part payments
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