Get ready for a mortgage holiday fight

By Tom Brown
18 Aug 2020

UK politicians should prepare for mortgage holidays becoming a political hot potato after borrowers who took payment holidays just-in-case realise that their financial well-being may not be as unscathed as they first anticipated.

Lenders report that around 1.6m people have taken a payment holiday in the UK. According to trade body UK Finance, between 60% and 70% of these borrowers were able to resume full payments in May.

According to recent data from non-bank lenders and building societies, around 20% ...

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