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.
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.
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.