Regulatory AlertsFS20/14: Mortgages and coronavirus: additional guidance for firms – feedback on draft guidance for mortgages
The Financial Conduct Authority issued additional guidance requiring home finance providers to offer tailored support and appropriate forbearance to customers facing financial difficulty due to coronavirus. This measure applies to both existing deferral beneficiaries and those affected after 31 October 2020, ensuring treatment aligns with individual circumstances and ongoing pandemic uncertainties. The guidance takes effect on 16 September 2020 and impacts authorized firms, administrators, and entities subject to general consumer protection laws.
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