FG24/2: Guidance for firms supporting existing mortgage borrowers impacted by rising living costs

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Finalised Guidance 23/2
Updated Finalised Guidance 24/2

We set out the ways mortgage lenders can help customers worried about, or already struggling with, their mortgage payments because of rising living costs.

This updated finalised guidance will come into effect from 4 November 2024


Read FG24/2 (PDF)

Why we are issuing this guidance

We want firms to be clear about the effect of our rules and the range of options they have to support their customers who are facing payment difficulties.

Who this is for

  • mortgage lenders
  • mortgage administrators
  • consumer groups
  • trade bodies


Many mortgage borrowers face higher mortgage payments alongside other increases in the cost of living. Borrowers may approach lenders needing or wanting to reduce, or smooth increases in, their monthly payments.

We previously consulted on draft general guidance which explained how firms can support their customers including through automated processes and digital channels. The draft guidance set out the flexibility firms have when providing forbearance to those who need it, and the scope firms have to vary contract terms for other borrowers who want to reduce their monthly payments.

Since issuing our finalised guidance, we have made relevant Handbook changes. This revised guidance takes account of those changes, and explains how firms can support their existing mortgage borrowers and comply with our Rules, Guidance and Principles.

It is effective from 4 November 2024.