Regulatory AlertsMortgages and coronavirus: updated guidance for firms
The Financial Conduct Authority issued updated guidance confirming that firms must treat home repossession as a last resort and delay enforcement if coronavirus risks to customers can be managed. The regulator maintained the March 2021 deadline for new payment deferrals under the Payment Deferral Guidance while affirming the ongoing relevance of the Tailored Support Guidance framework. This feedback statement addresses industry concerns regarding customer vulnerability assessments, communication requirements, and the sustainability of short-term forbearance measures.
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