STRUGGLING TO PAY YOUR MORTGAGE? FCA CONFIRMS HELP IS AT HAND – WHAT MORTGAGE

A lifeline has been thrown to borrowers struggling to pay their mortgage after new guidance has been firmed up which puts lenders under obligation to support customers in financial difficulties.

Lenders must now have tools available to help mortgage borrowers who have missed payments or may be unable to meet their repayments in the future.

Solutions could include extending the term of their mortgage or making arrangements for the borrower to reduce their monthly repayments for a temporary period.

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