RMBS in the spotlight as more UK banks offer mortgage relief

Mortgage_AdobeStock_575x375_12March20
By Tom Brown
12 Mar 2020

Lloyds is among several lenders to announce that it will join NatWest, TSB and Nationwide in allowing borrowers affected by the coronavirus to take payment holidays on their mortgages, but that has raised legal questions for RMBS deals if borrowers require deferrals beyond the three month relief period.

The move to offer the relief came after the Italian government put the country on lockdown in response to the coronavirus pandemic. Since then, the government has closed schools, shops and restricted movement around the country.

As part of its response to the crisis, Italy has offered borrowers 

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