Mortgage Payment Holiday
How to apply: Contact your lender to apply for a mortgage holiday
For hard pressed homeowners, there was also a promise that all mortgage lenders will offer a three month payment holiday to those customers experiencing issues with their finances, to enable sufficient time for recovery. However, please be aware that much as there will be a fast-track system of approval, not everyone will be granted the payment holiday, and the unpaid interest will be recovered later – a detail the Chancellor omitted to mention.
The mortgage payment holiday has been extended by a further 3 months until 31 October.