In March, the Chancellor, Rishi Sunak, introduced a scheme enabling homeowners affected by Coronavirus to take a mortgage payment holiday.
Figures from UK Finance show that, since its introduction, 1.82 million mortgage borrowers in the UK have taken up the option of a repayment holiday – equating to one in six of all mortgage borrowers in the UK.
With the government this week extending the scheme until October 2020, I take a look at what impact the pandemic and lockdown have had, and, may continue to have, on the property market.
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If you would like to discuss your current or future mortgage borrowing, give me a call today on 01483 205890 – I have many years’ experience advising on mortgages and finding the best rates and products to meet our clients’ needs.