Mortgages: Private Rented Housing

(asked on 28th January 2021) - View Source

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, whether landlords securing a buy-to-let mortgage holiday in response to the covid-19 outbreak are required to pay back suspended payments on the remainder of the term of their mortgage.


Answered by
John Glen Portrait
John Glen
Paymaster General and Minister for the Cabinet Office
This question was answered on 3rd February 2021

Mortgage holidays have provided support for borrowers to manage their finances during a period of uncertainty. Borrowers will still need to repay the full balance of their loan, and will continue to accrue interest during the payment holiday, unless the lender has indicated otherwise. There are various options for managing this, for example, by increasing their remaining monthly payments, or by adding an extension to the term. Borrowers should talk to their lender to understand the options they offer.

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