Finalised Guidance: Mortgages and coronavirus: updated guidance for firms

This guidance applies in the exceptional circumstances arising out of the coronavirus (Covid-19) pandemic and its impact on the financial situation of mortgage customers.

Read Finalised Guidance – Mortgages and coronavirus: Payment Deferral Guidance (PDF)

Read Finalised Guidance – Mortgages and coronavirus: Tailored Support Guidance (PDF)

Following a short period for comments, we have today finalised our guidance to firms on support to mortgage borrowers who face payment difficulties due to coronavirus.

Your home should not be repossessed before 31 January 2021, unless there are exceptional circumstances. We are currently seeking views on whether to extend this to 1 April 2021 – see our draft guidance for firms on the approach to repossessions from 31 January 2021. 


This guidance comes into force on 20 November 2020. But we encourage firms to consider how they can best support their customers at this time, and to follow this guidance earlier than 20 November where they are able to. This may help to limit the number of cases of customers dealt with since 31 October whose outcomes will need to be reviewed in line with paragraph 1.22 of the Payment Deferral Guidance. For the period 17 November 2020 to 20 November 2020, a firm is free to act in line with this guidance without that placing it in contravention of Principle 6, Principle 7, MCOB 2.5A.1R or MCOB 13.


We originally published mortgages and coronavirus guidance on 20 March 2020 and it was updated on 2 June. We published additional guidance for firms on 14 September 2020.

The Payment Deferral Guidance will continue to provide support for those impacted by coronavirus until 31 July 2021, with consumers needing to apply by 31 March 2021.

The Tailored Support Guidance covers the support firms should provide to mortgage borrowers who have come to the end of payment deferrals, as well as those whose financial situation may be affected by coronavirus after 31 March.

Given ongoing uncertainties arising from the impact of coronavirus, we will keep our position under review and will update or amend our guidance, or provide new guidance, if it is required. 

Page updates

19/11/2020: Editorial amendment