Jake Carter

Jake Carter is News Editor of Mortgage Introducer, Bridging Introducer and Specialist Finance Introducer

In light of the Chancellor’s three-month repayment holiday announcement, Accord Buy To Let and Cambridge Building Society have outlined their plans of action.

Legal & General Mortgage Club has announced measures in light of COVID-19.

Bank of England governor Andrew Bailey has said that the bank can do more in order to minimize the economic impact of coronavirus.

The lender will be allowing mortgage customers who have been financially impacted by COVID-19 repayment holidays of up to three months.

Santander has outlined that it is fully supportive of the industry three-month payment holiday to assist customers that have been impacted by COVID-19.

Data collected by ONS shows that among households in England containing someone aged 60 or over, less than half who rent have savings or investments.

The data outlines that of those aged between 18 and 24, 71% have lent money to their parents.

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Experian outlined that during a payment holiday an account should not be recorded as having any form of detrimental arrears.

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The reports will go into the firm’s broker customer relationship management system.

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The online broker wants lenders to take an understanding approach when dealing with customers struggling to pay their mortgages due to the outbreak.