I welcome the steps announced yesterday aimed at helping mortgage payers following the Chancellor’s meeting with providers.
These include:
- No-impact conversations
- 12 month delay on repossessions
- Those at the end of a fixed term can extend for an additional 6 months
- The ability to switch to interest-only offers
- Customers up to date on payments are able to switch providers
- Lenders are now offering tailored support to customers
These are big steps in protecting mortgage holders, but I will continue to work with Government and constituents going forward to monitor developments. You can find out more about the steps announced here: Chancellor agrees new support measures for mortgage holders - GOV.UK (www.gov.uk).
