Home loan holidays extended for up to 6 months

 Home loan holidays extended for up to 6 months


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Mortgage payment holidays are being extended for property owners economically affected by the pandemic.

The scheme had actually been because of pertain to an end on Saturday.

Borrowers who have not yet had a mortgage holiday can request from their lending institution a pause in payments, that can last as much as six months.

Those who have had their payments deferred already, can extend their home loan holiday up until they reach the six-month limitation.

The changes form part of a new package of financial support procedures revealed by the government as the UK heads into a second coronavirus lockdown on Thursday.

What aid is being made available to organizations in lockdown?

The announcement the furlough scheme would be extended provided excellent relief.

Nevertheless, there’s been no fresh statement about financial backing for the self-employed.

Groups representing the self-employed are asking for formerly announced winter season assistance grants – indicated to cover three-month periods – to be increased from covering 40%of revenues to something on parity with the support available for employees.

They also want eligibility criteria reviewed to assist those who have actually been left out of assistance so far.

After the prime minister’s address came news from the Treasury that there would be grants for organizations in England w

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Redak staff

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