Mortgage payment holidays have been extended

Mortgage payment holidays are being extended for homeowners financially affected by the pandemic.

In March, the government announced a three-month payment holiday on mortgages. This aimed to provide UK homeowners who were suffering financial loss due to COVID19 with some relief.

Applications for formal payment holidays were due to close on 31st October. Banks had agreed to offer tailored support to borrowers who needed it thereafter. But unlike initial payment holidays, this support would be reflected on the borrower’s credit report.

The government has now stated that it is extending the mortgage payment holiday.

Borrowers who have not yet had a mortgage holiday can request a pause in repayments from their lender. This can last up to six months.


Those who have already had payments deferred can extend their mortgage holiday until they reach the six-month limit.

During this period, interest will still accrue on what borrowers owe.

Borrowers who have already reached the maximum six-month mortgage holiday and are still facing difficulty making repayments are being advised by the FCA to speak to their lender about a tailored support plan.

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