1.6 Million Mortgage Holders Given Payment Holidays So Far

Lenders have revealed that 1.6 million mortgage holders - or one in seven households with a home loan - have been given payment holidays since the scheme began in early March. The majority of these payment holidays – 700,000 – have been granted this month, revealing the significant impact of the Coronavirus crisis on many people’s family finances as the lockdown has continued. And for the average mortgage holder, the payment holiday amounts to £755 per month of suspended payments, industry association UK Finance has revealed. This follows its earlier announcement that lenders would not move to repossess properties for three months, when the crisis is expected to have eased. Read more on the Negotiator website.

https://thenegotiator.co.uk/mortgage-holidays/