Our Island, Our Future

Help with mortgages to continue for homeowners affected by Coronavirus

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 :

https://www.gov.uk/government/news/help-with-mortgages-to-continue-for-homeowners-affected-by-coronavirus

If you require any further information regarding funding, please contact :

Alison Clark  

Covid-19 Response Coordinator 

Tiree Community Development Trust  

E: alison@tireetrust.org.uk 

T: 07741 489 959