Last week, the government announced it was extending mortgage payment holidays for a further three months. This gives homeowners until 31st October to apply for a payment break.
As part of the Treasury’s response to the COVID-19 outbreak in the UK, mortgage-holders have been able to apply for a mortgage payment holiday since March. The package has proven popular, with around 1.8 million people taking advantage of the option.
The scheme was set to end after the initial three-month period, but it will now continue for a further three months. This means that homeowners can apply to their lender for a payment break right up until the end of October. Those applying at the latest point would be able to take a payment holiday until the end of January.
However, lenders are encouraging all borrowers to only apply for a mortgage payment holiday if they need to. All deferred payments
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