Regulatory AlertsFS20/6: Temporary financial relief for customers impacted by coronavirus: feedback on draft guidance for mortgages
The Financial Conduct Authority published final guidance on 2 June 2020 to protect home finance customers facing temporary financial difficulty due to the coronavirus pandemic. The rules require lenders to grant payment deferrals, cease repossession proceedings until October 31, 2020, and offer alternative support where appropriate, while clarifying credit file reporting standards. This document outlines the regulator's responses to stakeholder feedback, including amendments to ensure fair treatment for customers in payment shortfall and mortgage prisoners.
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