Mortgage lenders back possessions moratorium
Mortgage lenders have backed the Financial Conduct Authority’s extension to the moratorium on possessions to 1 April 2021.
This followed the government’s extension of the moratorium on private tenant evictions until 21 February 2021 in England. Wales and Scotland have banned rental evictions until 31 March 2021.
Eric Leenders, managing director of personal finance at UK Finance, said: “The banking and finance industry is committed to providing ongoing support to those facing financial difficulty as a result of the pandemic.
“The industry is fully supportive of a moratorium on possessions remaining in place until 1 April 2021 to ensure customers do not lose their home at this difficult time.
“This is part of a package of support provided by lenders for those who need it, including payment deferrals and tailored assistance.
“It is vital that customers who are concerned about their finances go online or contact their lender to understand what options and support are available to them.”
Under the extension, members of UK Finance and the Building Societies Association will agree not to seek, or enforce, a warrant for possession before 1 April 2021, unless there are exceptional circumstances such as a customer requesting proceedings to continue or when the property is in vacant measures.
This latest extension means the measures will have been in effect for 12 months by its end date.