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<p>On 20 March 2020, the Financial Conduct Authority (FCA) published guidance on what
it expects mortgage lenders to do for consumers facing financial difficulties as a
result of COVID-19.</p><p> </p><p>As part of this guidance, the FCA set out that the
consumer’s credit score should remain unaffected by taking out a mortgage payment
holiday. This has been achieved through the masking of the arrears status on the credit
file. This remains the case for all borrowers accessing up to six months of mortgage
payment holidays – borrowers can apply for a payment holiday until 31 March 2021.</p><p>
</p><p>HM Treasury and the FCA have been working closely with lenders and the credit
reference agencies on this matter throughout the crisis and will continue to do so
to ensure the best outcome for consumers and lenders.</p>
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