“ Figures published by UK Finance, the banking lobby group, showed that 1.9 million mortgage payment holidays have been taken by borrowers in the last three months.
This is equivalent to one in every six mortgages in Britain, with an average of £755 being deferred each month. This is up from 1.8 million last month.
Since March, banks have been required to offer payment breaks to customers who are struggling financially because of coronavirus. This includes borrowers who have contracted the virus and those who have seen their income fall because of its economic impact.
The Government programme has since been extended, meaning customers can request payment holidays until October 31. However, there have been warnings that consumers have not understood the repercussions of payments breaks. ”
Two million homeowners still unable to pay off their mortgage
This is equivalent to one in every six mortgages in Britain, with an average of £755 being deferred each month. This is up from 1.8 million last month.
Since March, banks have been required to offer payment breaks to customers who are struggling financially because of coronavirus. This includes borrowers who have contracted the virus and those who have seen their income fall because of its economic impact.
The Government programme has since been extended, meaning customers can request payment holidays until October 31. However, there have been warnings that consumers have not understood the repercussions of payments breaks. ”
Two million homeowners still unable to pay off their mortgage
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