blog header image

Posted : 17 Mar 2020 at 18:19:21
Category: Corona Virus News

Share this article

Mortgage lenders will offer borrowers a three-month holiday on repayments if they are facing difficulties caused by the novel coronavirus outbreak.


Chancellor Rishi Sunak (pictured) made the announcement during the government’s second daily update on the coronavirus. 

Sunak said: “People will not have to pay a penny towards their mortgage cost while they get back on their feet”. 

He added he would announce further measures in the coming days to help support people’s financial security. 

This news comes as a number of lenders confirmed they will relax on rules to help borrowers who are unable to make mortgage repayments due to the pandemic. 

Lloyds Banking Group and NatWest were the latest banks to announce support for mortgage customers, with both saying borrowers would not have a black mark on their credit history if they missed payments due to the virus. 

The support for landlords and tenants through this measure is not yet clear.

More details about how this will work exactly are expected shortly.

SIMILAR NEWS

blog header image
CORONA VIRUS NEWS
CLAIMS OPEN FOR SECOND SELF-EMPLOYED SUPPORT GRANT

How to claim The online service for the second and final grant is now available. Make your claim on or before 19 October 2020. You should contact HMRC if you receive any suspicious text ...

blog header image
CORONA VIRUS NEWS
CORONAVIRUS LOCKDOWN: ALL YOU NEED TO KNOW ABOUT NEW MEASURES

Prime Minister Boris Johnson has announced a series of measures to take effect from 4 July, easing the lockdown in England. Meanwhile in Scotland, the five-mile travel limit is set to be lifted from 3 ...

blog header image
CORONA VIRUS NEWS
TODAY THE CLAIM A GRANT THROUGH THE SELF-EMPLOYMENT INCOME SUPPORT SCHEME OPENS

If you're self-employed or a member of a partnership and have been adversely affected by coronavirus (COVID-19) use this scheme if you're eligible to claim the grant. Contents Before you start What ...

blog header image
CORONA VIRUS NEWS
FIND CORONAVIRUS FINANCIAL SUPPORT FOR YOUR BUSINESS

The HMRC has released an updated page for businesses trying to discover what Financial help is available to them. Coronavirus (COVID-19) support is available to employers and the self-employed. You ma ...

blog header image
CORONA VIRUS NEWS
4TH UPDATE TO THE CLAIM FOR YOUR EMPLOYEES' WAGES THROUGH THE CORONAVIRUS JOB RETENTION SCHEME

Find out if you’re eligible and how much you can claim to cover wages for employees on temporary leave ('furlough') due to coronavirus (COVID-19). Contents Who can claim Employees you can claim ...

blog header image
CORONA VIRUS NEWS
DAILY CORONAVIRUS CASES FALL 10 PER CENT

Daily coronavirus cases have dropped for the first time in weeks, according to the latest figures. Stocks rallied as the number of daily coronavirus cases fell 10 per cent on Sunday compared to the pr ...

business-directory Business Directory
smartbusinessdirectory Payroll Services Business Directory
truebusinessdirectory payroll-services Directory
payroll-services Directory