• News
  • Sport
  • TV
  • Radio
  • Education
  • TV Licences
  • Contact Us
  • SOUTH AFRICA
  • POLITICS
  • BUSINESS
  • SPORT
  • AFRICA
  • WORLD
  • FEATURES
  • OPINION
No Result
View All Result
1
Home World

Britain extends COVID-19 mortgage payment holiday by another three months

22 May 2020, 1:56 PM  |
Reuters Reuters |  @SABCNews
Britain’s finance ministry said more than 1.8 million mortgage payment holidays had been taken up since the scheme was launched in March

Britain’s finance ministry said more than 1.8 million mortgage payment holidays had been taken up since the scheme was launched in March

Britain’s finance ministry said more than 1.8 million mortgage payment holidays had been taken up since the scheme was launched in March

Britain has extended its mortgage payment holiday scheme for homeowners in financial difficulty during the coronavirus pandemic for another three months.

Britain’s finance ministry said more than 1.8 million mortgage payment holidays had been taken up since the scheme was launched in March. It had been due to end in June. Homeowners struggling financially can also choose to make reduced payments.

“Everyone’s circumstances will be different, so when homeowners can pay some or all of their mortgage, they should work with their lender on a plan; but if they are still struggling, I want them to know that help is there,” John Glen, economic secretary to the Treasury, said in a statement.

The Financial Conduct Authority in a separate statement clarified how banks should treat the payment deferrals for accounting purposes, saying they should not automatically assume those using the scheme would default on payments.

Banks could instead use their judgement about whether those using the scheme were likely to be able to resume payments before marking loans as past due under accounting rules known as IFRS9.

The authorities said they were extending the application period for a payment holiday to October 31 for people who had not yet applied for the scheme but might need to. They extended to the same date a ban on repossession of homes by lenders.

Below is the dashboard tracking global COVID-19 cases, death toll, recoveries and more:

Share article
Tags: CoronavirusCoronavirus pandemic
Previous Post

George Soros says EU may not survive coronavirus crisis

Next Post

Plane crashes in Pakistan with 100 on board, many feared dead

Related Posts

A banner with the image of Sikh leader Hardeep Singh Nijjar is seen at the Guru Nanak Sikh Gurdwara temple, site of his June 2023 killing, in Surrey, British Columbia, Canada, September 20, 2023.

Canada gathers allies as tensions rise with India over Sikh leader’s murder

21 September 2023, 10:27 AM
President Cyril Ramaphosa

Ramaphosa urges developed nations to support financial system reform

20 September 2023, 9:52 PM
United Nations Secretary-General Antonio Guterres addresses the 78th Session of the UN General Assembly in New York City, US, September 19, 2023.

Poor nations have ‘every right to be angry’ about climate crisis: UN chief

20 September 2023, 9:30 PM
Crosses mark the graves of soldiers buried amongst hundreds in one of the WW1 military cemeteries in the village of Rossignol, southern Belgium, August 13, 2014.

World War One cemeteries, Rwanda genocide sites, Argentine torture centre declared UNESCO World Heritage

20 September 2023, 8:45 PM
President Cyril Ramaphosa sits next to UN Secretary General Antonio Guterres.

Now is the time to accelerate implementation in order to tackle climate change: Ramaphosa

20 September 2023, 8:29 PM
FILE PHOTO: Chinese President Xi Jinping and Russian President Vladimir Putin attend a presentation of a Haval F7 SUV produced at the Haval car plant located in Russian Tula region, at the Kremlin in Moscow, Russia, June 5, 2019.

China urges deeper trade ties with Russia despite Western rebuke

20 September 2023, 9:01 AM
Next Post
A plume of smoke is seen after the crash of a PIA aircraft in Karachi, Pakistan May 22, 2020.

Plane crashes in Pakistan with 100 on board, many feared dead

Most Viewed

  • 24hrs
  • Week
  • Month
  • High waves and rough water conditions force beach closures in the Western Cape
  • Prince Mangosuthu Buthelezi to rest in the town he built and nurtured
  • Another hijacked building catches fire in Joburg
  • UPDATE: Public warned not to go to W Cape beaches as another spring tide expected
  • Spring high tide leaves trail of destruction along Garden Route
  • High waves and rough water conditions force beach closures in the Western Cape
  • Prince Mangosuthu Buthelezi to rest in the town he built and nurtured
  • NSPCA files criminal case against Julius Malema for alleged animal cruelty
  • Snow, heavy rainfall expected in parts of KZN: SAWS
  • Cold-front sweeps across SA bringing snow and chilly temperatures
  • Joburg residents face water supply disruptions following thunderstorm
  • IEC in Limpopo dismisses officials for tampering with voter registration
  • Limpopo farmer helping with establishing food gardens
  • Cosatu in Gauteng keeps an eye on labour developments in Tshwane
  • Seven arrested in connection with WITS student’s kidnapping

LATEST

Maize crop seen on a farm.
  • Business

Changing weather patterns fuel acute food insecurity for 140 million Africans: Report


Egyptian rescuers continue searching for bodies  in the aftermath of the floods in Derna, Libya September 21.
  • Africa

Libya floods sweep away migrants, and their hopes


  • South Africa

LIVE | ANC briefing on current developments including NHI


[FILE IMAGE] NSRI rescue team.
  • South Africa

SA Navy releases names of sub-mariners in Kommetjie tragedy


Former Eskom CEO Matshela Koko
Former Eskom CEO Matshela Koko
  • South Africa

Defence advocates for Matshela Koko seek removal of case from court


SARB Governor Lesetja Kganyago
  • Business

VIDEO | Interest rates remain unchanged: Kganyago


Weather

  • About the SABC
  • Contact Us
  • Jobs
  • Advertise
  • Disclaimer
  • Site Map

SABC © 2023

No Result
View All Result
  • SOUTH AFRICA
  • POLITICS
  • BUSINESS
  • SPORT
  • AFRICA
  • WORLD
  • FEATURES
  • OPINION

© 2023

Previous George Soros says EU may not survive coronavirus crisis
Next Plane crashes in Pakistan with 100 on board, many feared dead