The FCA has set out new proposals to enhance support for mortgage borrowers affected by Covid-19. The regulator sets out new proposals due to increasing restrictions announced in recent weeks. The FCA is planning to extend the availability of payment deferrals to support borrowers experiencing payment difficulties. This will mean that those who: have not…
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The Coronavirus pandemic has had an unprecedented impact on the British economy. Many mortgage prisoners are finding themselves facing huge financial challenges in these difficult times. The Covid 19 crisis has also essentially created more mortgage prisoners. Clients whose borrowing is at a high LTV, particularly 90%+, have been unable to remortgage due to products…
The government has further extended the ban on evictions for another 4 weeks to protect the renters affected by Coronavirus. The Ministry of Housing, Communities and Local Government confirmed on Friday 21 August that the suspension of evictions would continue until 20 September. Landlords will also have to give six months’ notice to any tenants…
HSBC has cut the rates on its two and five year fixed rate mortgage deals at 60% loan-to-value (LTV). HSBC is one of the biggest mortgage lenders in the UK. Reducing rates will be welcome news to mortgage borrowers.The bank has cut rates on six products. These products include a mix of fixed and term…