Mortgage Holidays are extended for another six months

At the beginning of the lockdown, borrowers who had been severely impacted by coronavirus had the opportunity to defer their mortgage payments. This was introduced as a new package to help out lenders in the current pandemic. It was due to end on Saturday 31st October. During this period interest was still accruing, however it was introduced as a part of the new financial support measures that it will be extended for a further six months.

The extension will not affect credit files or histories, which serves as good news for lenders as studies showed borrowers were still facing extreme difficult in repaying full mortgage amounts. They are now encouraged to speak to lenders about a tailored support plan.

The FCA has stated that lenders who have already claimed the six-month mortgage holiday and wishes to continue must negotiate a alternative form of tailored support. Many have praised the regulator for taking action to help people suffering from financial difficulties.

Speak to your lender for more additional support and formulate a plan if you are in debt.

Leave a Reply

Your email address will not be published. Required fields are marked *

Asmat Accountants

Asmat & Co are one of Berkshires’ leading independent firms of Accountants servicing a growing and satisfied clientele. At Asmat & Co expert advice is available from senior qualified Chartered Management Accountants (ACMA) and Chartered Certified Accountants (ACCA), at very attractive packages tailored to suit varied individual and business requirements. The professional team at Asmat & Co. possesses extensive experience in providing accounting, tax, finance transformation and business advisory services to a diverse customer base.


  • 84 High Street, Slough, Berkshire SL1 1EL, United Kingdom
    Get directions >>
  • 01753 424968 / 02035 988 621
  • 01753 437109
  • info@asmataccountants.co.uk

Reading Office

  • 365-367 Oxford Road, Reading, RG30 1HA
    Get directions >>
  • 0118 950 9841
  • reading@asmataccountants.co.uk

Request a Call Back

Call back