Mortgage moratorium self-certification hiding UK RMBS performance data

By Tom Brown
21 May 2020

The UK chancellor has doubled the mortgage moratorium period to six months, but has not allowed mortgage lenders more discretion when deciding to grant payment holidays on their mortgages. This is making RMBS performance difficult to assess, market participants say.

Commentators such as Goodbody Financials wrote on Thursday they expected banks to be allowed more discretion when granting payment breaks. But Friday's guidelines did not direct banks to put more scrutiny on borrowers asking for another three month extension, which bankers say would otherwise lead to a drop-off ...

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