On the 25th May the Government announced that homeowners struggling to pay their mortgage due to Coronavirus will be able to extend their mortgage payment holiday for a further three months or alternatively can start making reduced payments.
The availability of a three-month mortgage holiday was first announced in March and the first of these will be coming to an end in June. Mortgage lenders will contact homeowners who are already receiving a mortgage holiday to discuss a way forward. The Government has advised that where consumers can afford to re-start mortgage payments, it is in their best interest to do so. However, if people are still struggling and need help, a full extension of the mortgage holiday for a further three months will be available as one of the options open to them.
For those who have not already applied for a mortgage holiday due to Coronavirus the application period for a mortgage holiday has been extended until the 31 October. The current lender ban on repossessions of homes will be continued to the same date.
See here for full details :
If you require any further information regarding funding, please contact :
Alison Clark
Covid-19 Response Coordinator
Tiree Community Development Trust
T: 07741 489 959
