The Financial Conduct Authority (FCA) has finalised its additional guidance setting out how firms should provide tailored support to mortgage borrowers who have accepted payment deferrals under current rules and who continue to face financial difficulties.
The additional guidance – which applies from today – also applies to those whose financial situation may be affected by coronavirus after 31 October.
FCA guidance published in June will continue to provide support for those impacted by coronavirus until 31 October 2020, with consumers able to take a first or second three-month payment deferral until this date.
A FCA spokesman said: “Given ongoing uncertainties arising from the impact of coronavirus, we will keep our position under regular review and will update or amend our guidance, or provide new guidance, if it is required.”
The finalised guidance is available here.