Update on Mortgage Payment Holidays. How to apply, what proof is required and credit score impact.
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To allay customer fears please note guidance that the FCA has provided to all lenders:
- Grant customers a payment holiday for an initial period of 3 months, where they may experience payment difficulties as a result of coronavirus (Covid-19) and where they have indicated they wish to receive one.
- Ensure that there is no additional fee or charge (other than additional interest) as a result of the payment holiday.