A: In short, yes, but only if you are up to date with your mortgage payments.
Anyone who finds themselves in financial difficulty due to the Coronavirus can apply for a 3 month mortgage holiday provided their payments are up to date. However, a mortgage holiday isn’t always the best option for everyone.
A flexible approach will enable all types of lenders to offer the right support for customers. Many lenders will want to speak to customers to find out how they can tailor the best option for them.
Firms will help customers the best way for the individual, but an automatic payment holiday may not always be the most suitable approach and may not be required by all customers.
Firms will be speaking to credit reference agencies to ensure consistent treatment of those customers to whom a repayment holiday is made available.