Coronavirus Update: Mortgage Payment Holiday

The Government have announced an incentive to help with mortgage payments by encouraging lenders to give up to three months payment holiday and you can speak directly to your lender for guidance on this. Each lender will have their own criteria and process for this and some will be easier than others to set up. This should have no adverse affect on your credit and you should discuss this with your lender if you are unsure. The rules have also been extended to Buy-to-Let mortgages to help landlords.

The Government are also putting in legislation to suspend new evictions from social or private rented accommodation and commercial premises for a three month period. Any rent not paid would still be due.