Payment Breaks

♠ Some lenders are producing statements similar to this.

 

“We offer payment holidays (up to three months, and down to zero pay) to customers (Buy to let and Residential) who have or anticipate having payment problems as a result of Covid-19. We do not require evidence but we will have a conversation with each customer to understand their circumstances and explore what the most appropriate solution is. Any payment holiday will not have a negative effect on the customer’s credit file. A zero-pay three month payment holiday may not be the most appropriate option.”

The bottom line is that people need advice, because making a part payment is better than making no payment, so speaking with an adviser before going direct to the lender could help in the long run.

People take care out there these are challenging times.

 

Published by IFA on fire

Living in the South of England, contactable via e-mail details on request

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