Tag: mortgage

Nationwide caps mortgage lending due to virus

Image copyright PA Media The UK’s biggest building society has tripled the deposit it will ask for from first-time buyers. The Nationwide will lower its ceiling for mortgage lending to new customers in response to the coronavirus crisis. It said the change, from Thursday, was due to “these unprecedented times and an uncertain mortgage market”. First-time buyers are likely to… Read more →

Mortgage payment holiday extended for further three months

Image copyright Getty Images Image caption More than a million and a half people took up the opportunity to delay their mortgage payments under the scheme. Homeowners struggling financially due to coronavirus will be able to extend their mortgage payment holiday for a further three months, or cut payments. Mortgage holidays started in March, allowing people to defer payments without… Read more →

Coronavirus: Chancellor ‘could extend mortgage holiday’

Image copyright Getty Images Image caption More than a million and a half people took up the opportunity to delay their mortgage payments under the scheme. The Chancellor, Rishi Sunak, is believed to be discussing ways of extending three month mortgage holidays with regulators and banks. The Financial Times reports the government hopes to prolong the scheme for borrowers struggling… Read more →