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Dear All,

Following on from the October article relating to mortgage holidays, I wanted to provide you with a brief update as we prepare to enter a second lock down.

The Financial Conduct Authority have announced an extension to the current terms. This will apply both to individuals who have previously taken part in the mortgage deferral scheme and to new applicants.

In short, if you HAVE NOT applied for a mortgage holiday, you can apply for a payment break of upto 6 months.

If you have, then you may be able to apply for an additional extension to cover the initial period of November to December.

For any additional requests, you must contact your finance provider. These requests will be treated on a case by case basis.

Lenders will contact all individuals who have utilised the scheme over the past 6 months and also provide an update to mortgage intermediaries to enable us to help provide additional advice and support for you.

In addition to the above, the FCA are set to instruct lenders to extend the deferment on loans and overdrafts.

I must stress that along with the FCA you should only take up the support if you need it, and that it is important for you to continue to make repayments if you can afford to do so.

Best Wishes


Ben Horsfield CeMap

Head of Mortgage Services