Regulatory Alerts2020-09-11
Mortgages and Coronavirus: Additional Guidance for Firms - Finalised Guidance
The UK financial regulator has finalised additional guidance requiring mortgage lenders to provide tailored support to borrowers who received payment deferrals and continue to face financial hardship, as well as those whose circumstances are impacted after 31 October 2020. This updated framework takes effect from 16 September and supersedes earlier November publications while preserving existing deferral options through the end of October. The regulator will continuously monitor pandemic-related economic impacts and amend the rules as necessary to ensure adequate consumer protection.
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