Comment on extension of mortgage payment holidays

Commenting on the FCA’s confirmation of the extension of mortgage payment holidays, Andrew Johnson, money expert at the Money and Pensions Service said: “It is positive that flexibility will continue to be available to people facing temporary money issues but it’s really important anyone taking a break from paying their mortgage understands the implications. Your future payments will almost certainly be higher, so it’s likely to be in your best interest to resume your mortgage payments as soon as you can afford to do so. Before you make any decisions, make sure you access free guidance on Coronavirus related money issues on the Money Advice Service website, and speak to your lender about all the options available to you.”